Compare the incentives that prices provide to consumers and producers

2 answers:

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Answer: Price acts as an incentive to consumers and producers. Higher (lower) prices require consumers to give up more (fewer) resources to obtain goods. Consumers react to changing price incentives by altering their consumption choices or the quantity demanded of goods.

Explanation:

sp2606 [1]3 years ago

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Answer:

Explanation:

Price acts as an incentive to consumers and producers. Higher (lower) prices require consumers to give up more (fewer) resources to obtain goods. Consumers react to changing price incentives by altering their consumption choices or the quantity demanded of goods.

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