My dazzling shelf by Mackenzie Bushong https://padlet.com/20bushma/trwuogoxl6z7 Made with a stroke of good luck en-us 2019-04-04 16:24:05 UTC 2019-04-08 02:55:52 UTC hello@padlet.com Main point of price is to convey information 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349340860 Consumers and producers use this to make decisions]]> 2019-04-08 02:21:05 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349340860 Price signals the opportunity cost of a purchase for consumers. For producers, it tells them what consumers want. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349341571 2019-04-08 02:24:07 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349341571 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349342315 2019-04-08 02:28:27 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349342315 Prices act as an incentive because they stand for a potential profit. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349342851 2019-04-08 02:31:11 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349342851 By having the opportunity to earn a higher price, it gives people an incentive to work or earn a higher salary. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349343719 2019-04-08 02:36:31 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349343719 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349344214 2019-04-08 02:39:38 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349344214 In a market-based economy, the most important role of price is to guide resources to their most efficient uses. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349344423 2019-04-08 02:41:04 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349344423 Price determines what product is in the greatest demand, therefore this resources used to make that product will also be in high demand. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349344977 2019-04-08 02:44:35 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349344977 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349345408 2019-04-08 02:47:01 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349345408 Prices allow markets to be able to adapt to major events like war and natural disasters when it interferes with the production of goods 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349345635 2019-04-08 02:48:28 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349345635 Prices give markets the flexibility they need to reach equilibrium even under changing conditions. 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349346272 2019-04-08 02:52:13 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349346272 20bushma https://padlet.com/20bushma/trwuogoxl6z7/wish/349346896 2019-04-08 02:55:52 UTC https://padlet.com/20bushma/trwuogoxl6z7/wish/349346896