Price allocates goods and services among those who are willing and able to pay for them.

Name: Price allocates goods and services among those who are willing and able to pay for them.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is the fundamental principle of a market economy. Prices act as signals that direct resources towards their most valuable use, as determined by consumer preferences and ability to pay. Those who are willing and able to pay the market price for a good or service are able to obtain it, while others are excluded.

Price Allocates Goods and Services Among Those Who Are Willing