The institution that coordinates actions of consumers and producers to establish prices for goods and services is known as:
A)a market.
B)a monopoly.
C)a production possibilities curve.
D)consumer sovereignty.

Question

Quizplus · Accepted Answer

A market is a platform where buyers and sellers come together to exchange goods and services for money. The dynamics of the market dictate the price at which goods and services are sold, based on the laws of demand and supply.

The Institution That Coordinates Actions of Consumers and Producers to Establish