Free Enterprise 11. Under this system, how are prices determined?

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Khodayar J asked Jan 22, 2023

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Free Enterprise

11. Under this system, how are prices determined?

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Khodayar J asked Jan 22, 2023

by Khodayar J

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Answer:

prices are determined by the total cost of production

Abhijith Konnayil answered Jan 24, 2023

by Abhijith Konnayil

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23 votes

Answer:

If the demand is high the prices climbs, if the demand is low, so is the price.

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Hope this helps.

Andreikashin answered Jan 25, 2023

by Andreikashin

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