List three reasons why a price-based system works more efficiently than central planning.

1 answer:

6 0

<span>Three reasons a price-based system works more efficiently than central planning are flexibility, a larger selection of goods, and resources are used entirely.

</span><span>Price based systems are more efficient because the demand from a product determines its price. Only enough product is produces that the market demands. Excess surpluses are not generated in a price based system.</span>

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