Under the market system, prices coordinate the decisions made by households and businesses.
<h3>What is a market system?</h3>
It should be noted that a market system simply means an economy whereby the individual makes choices in the market and decisions.
In this case, under the market system, prices coordinate the decisions made by households and businesses.
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Answer: Decrease, decrease
Explanation: Substitute goods are those goods that are used in place of each other. When the price of a substitute good falls, it becomes more attractive to the consumers. Here, wood planks and wood beams are substitutes to each other. So, when price of wood plank falls, demand for wood beams will decrease, shifting the demand curve to the left. As a result, of this the equilibrium price of wood beams and the quantity of wood beams will also decrease.
Answer:
Airline 2 offers low prices on long-distance flights and has long service times for its planes between flights.
Explanation:
Low Cost providing strategy is the strategy in which the services are provided at a lower cost and but the quality of service is acceptable, and is in fact good.
Where the price along with quality is decreased the low cost strategy is not followed.
As in the case of Airline 2 the cost is decreased for passengers and at the same time the service is also decreased.
As there is a long gap of time in between the flights.
