One of the primary functions of markets could be labeled

Question

Quizplus · Accepted Answer

The primary function of markets is to coordinate the exchange of goods and services between buyers and sellers. This involves setting prices and determining the quantity of goods and services exchanged. Markets also allow for decentralized decision-making, as individual buyers and sellers make their own choices based on their own preferences and needs. While markets can stimulate economic activity, it is not their primary function. Planification (planning) is not a function of markets, as they are driven by voluntary exchanges rather than centralized planning.

One of the Primary Functions of Markets Could Be Labeled