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Q. |
Price mechanism is a feature of - |
A. | Capitalist economy |
B. | Barter economy |
C. | Mixed economy |
D. | Socialist economy |
Answer» A. Capitalist economy | |
Explanation: Price mechanism is an economic term that refers to the manner in which the prices of commodities affect the demand and supply of goods and services. It is essentially a feature of market-driven or capitalist economic systems. It is based on the principle that only by allowing prices to move freely will the supply of any given commodity match demand. |
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