Question

How are prices determined in a market economy?

by consumer demand and producer competition
by the government
by private companies
by the needs of the local community

Answer 1

by consumers demand and producer competition

Step-by-step explanation:

by consumers demand I mean, the more the commodity is needed in the market, the more stable the price is

by producer's competition, this means the more the market is competitive, it determine if the price of goods go up or decrease