In modern economies
A) all prices are very flexible.
B) some prices are very flexible while others are not.
C) no prices are very flexible.
D) prices become less flexible as they increase.

Question

Quizplus · Accepted Answer

In modern economies, some prices are very flexible, such as prices of commodities like oil and agricultural products, while others are less flexible, such as wages and prices of goods with high brand value. Factors like market competition, supply and demand, and production costs influence price flexibility.

In Modern Economies