Using the guideposts to economic thinking, explain how the market system efficiently performs the functions of communication, cordination, and

Using the guideposts to economic thinking, explain how the market system efficiently performs the functions of communication, cordination, and motivation in the distribution of resources to consumers

Communication; the acquisition of information, like the case of any other good, is costly.Co-ordination; Incentive matters and affects choices in predictable ways.Motivation; Economic thinking is…

Leave a comment

Your email address will not be published.