Question

Buyers and sellers receive information about what should be bought and what should be produced A. from friends and family. B. from prices in a market system. C. by listening to TV news programs. D. from newspaper gossip columns.

Answer 1

B, from prices in a market system

Step-by-step explanation:

A market system can be defined as a combination of buyers, sellers and other parties that come together to patronise a product or service.

Buyers and sellers alike can decide what to buy and what not to buy through the prices of goods and services in the market system.

For a seller, if the price of a product is quite costly from the manufacturer, it tells whether the seller would purchase it or not. Likewise, if a buyer approaches a seller for any goods or services, the price of the goods or services determines whether or not the buyer will purchase from the seller.

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