Price serves the function of _____ for goods, services, and financial resources.

1 answer:

7 0

Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.

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Explanation:

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When two companies come together strategically to operate is called a joint venture.

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Learn more about joint venture here:

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What do you think of the behavior of the United States to block China's chip research

antoniya [11.8K]

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