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What are the functions of price system?

Answer:

1 It determines the allocation of scarce resources

2 It induce supply to respond to change in demand

3 It ration out scarce product

4 It indicate change in want

5 It is in use in the production of good and service

6 It determines the reward factors of production

First answer by ID0701292583. Last edit by ID0701292583. Question popularity: 7 [recommend question].

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