https://padlet.com/20robeha/c1721kb81ahc What does price tell us abput life in a mixed en-us 2019-04-05 18:02:42 UTC 2019-05-07 03:45:46 UTC hello@padlet.com 20robeha https://padlet.com/20robeha/c1721kb81ahc/wish/357457907 1) Prices allow room for markets to make adjustments when sudden events happen, such as war a natural disasters, which can take a heavy toll on markets
2) Prices allow for flexibility when equilibrium needs to be reached under certain or changing conditions]]> 2019-05-07 03:19:16 UTC https://padlet.com/20robeha/c1721kb81ahc/wish/357457907 20robeha https://padlet.com/20robeha/c1721kb81ahc/wish/357458710 1) Consumers and producers both use the information conveyed from prices to make decisions
2) Producers create prices that will hopefully appeal to the consumer so that they will buy their product]]> 2019-05-07 03:25:00 UTC https://padlet.com/20robeha/c1721kb81ahc/wish/357458710 20robeha https://padlet.com/20robeha/c1721kb81ahc/wish/357459389 1) Guiding resources to their most efficient users is one of the most important roles of prices in a market economy
2) Car manufacturers will use prices to decide which models of a car to produce and the quality of the car being produced]]> 2019-05-07 03:29:57 UTC https://padlet.com/20robeha/c1721kb81ahc/wish/357459389 20robeha https://padlet.com/20robeha/c1721kb81ahc/wish/357459661 1) Prices represent potential for profit for the producer
2) When prices in a market rise, it motivates existing firms to produce more or enter the market

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