in a price system, changes in prices\na. imply that people have made mistakes in the past.\nb. signal to…
in a price system, changes in prices\na. imply that people have made mistakes in the past.\nb. signal to consumers that some goods are relatively more or less scarce.\nc. make it difficult for the economy to function well.\nd. signal to policymakers what goods should and should not be taxed.
Answer
Brief Explanations:
In a price - system, price changes reflect the relative scarcity of goods. Higher prices indicate greater scarcity, while lower prices suggest less scarcity. This is a fundamental concept in economics.
Answer:
B. signal to consumers that some goods are relatively more or less scarce.