Question

Thanks to the price system, local interests and local knowledge are:

a. coordinated with other local interests and local knowledge across the global market.

b. independent from other local interest and local knowledge in the market.

c. overshadowed by global interest and global knowledge.

d. in direct conflict with all other local interest and local knowledge.

Answer 1

a. coordinated with other local interests and local knowledge across the global market.

Step-by-step explanation:

Global markets are made up of individuals coordinating together. In these market prices are determined by market forces. It defines the price which consumer is willing to pay for a certain product or service. Local knowledge, price system and local interests are coordinated with global market local interests and price systems.