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Shanu posted an Question
September 02, 2020 • 22:27 pm 50 points
  • UGC NET
  • Economics

What is price mechanism

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  • Anonymous User best-answer

    In economics, a price mechanism is the manner in which the profits of goods or services affects the supply and demand of goods and services, principally by the price elasticity of demand.

  • Anonymous User Best Answer

    Price mechanism refers to the determination of price of all goods and services by the interaction of forces of demand and supply without any external interface.

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