2.2.3 Introduction to the price mechanism
Unit 2.2.3 - Introduction to the price mechanismThis section of the Cambridge IGCSE Economics (0455) syllabus is an introduction to the price mechanism. It requires students to understand how the price mechanism provides answers to the key allocation questions covered in Unit 2.2.2 (what, how, and for whom production should take place).In a market economic system, resources are allocated through the price mechanism....
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