why is it important that prices are flexible in our economy

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02-07-2024
Business

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why is it important that prices are flexible in our economy

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Jagaban23 Jagaban23 · Answer 1 · 2024-07-02T15:33:01-04:00

Jagaban23 Jagaban23

02-07-2024

Answer:

Explanation:

In our economy, it is essential that prices are flexible for several reasons. Price flexibility allows markets to efficiently allocate resources based on supply and demand dynamics. When prices can adjust freely, they serve as signals to both producers and consumers about the scarcity or abundance of goods and services.

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