Think about our economy. Irrespective of economic conditions, we consume many goods and services in various quantities. There is a constant…

Think about our economy. Irrespective of economic conditions, we consume many goods and services in various quantities. There is a constant allocation and re-allocation of resources. How does this happen? What economic mechanism helps allocate resources to the preferences of hundreds of millions of people? (Hint: Consumer’s sovereignty).

Original answers please.

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