Price mechanism is an economic term that refers to the manner in which the prices of commodities affect the demand and supply of goods and services. Price mechanism affects both buyers and sellers who negotiate prices of goods or services. A price mechanism or market-based mechanism refers to a wide variety of ways to match up buyers and sellers t...
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http://en.wikipedia.org/wiki/Price_mechanism
Same as market mechanism.
Found on
http://www-personal.umich.edu/~alandear/glossary/p.html
(from the article `price`) ...among the large number of people desiring them. They also act as indicators of the strength of demand for different products and enable producers ...
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http://www.britannica.com/eb/a-z/p/111
Prices act as a signal to firms and consumers to adjust their economic behaviour. For example a rise in price encourages producers to switch into making that good but encourages consumers to use an alternative substitute product.
Found on
http://www.encyclo.co.uk/local/20140
Describes the way prices for goods and services are influenced by the changes in supply and demand. Shortages cause a rise in prices, surpluses cause a fall in prices
Found on
http://www.encyclo.co.uk/local/22643
No exact match found.
