Simple question "Explain the role of a market in allocating scarce resources?"
Basically how do markets allocate scarce resources?
ECON F581 help! watch
- Thread Starter
- 10-05-2015 13:11
- Official Rep
- 11-05-2015 22:40
Sorry you've not had any responses about this. Are you sure you’ve posted in the right place? Posting in the specific Study Help forum should help get responses.
I'm going to quote in Puddles the Monkey now so she can move your thread to the right place if it's needed.
Spoiler:Show(Original post by Puddles the Monkey)
- 11-05-2015 22:52
Through the free market mechanism, which is made up of two market forces (supply and demand) that interact to create the price at a given qunatity, known as the market equilibrium, sorry if its late, had the exam this morning