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  2. In economics, a price system is a system through which the valuations of any forms of property (tangible or intangible) are determined. All societies use price systems in the allocation and exchange of resources as a consequence of scarcity.
    en.wikipedia.org/wiki/Price_system
    price system, a means of organizing economic activity. It does this primarily by coordinating the decisions of consumers, producers, and owners of productive resources. Millions of economic agents who have no direct communication with each other are led by the price system to supply each other’s wants.
    www.britannica.com/money/price-system
    In economics, a price mechanism is the manner in which the profits of goods or services affects the supply and demand of goods and services, principally by the price elasticity of demand. A price mechanism affects both buyer and seller who negotiate prices.
    en.wikipedia.org/wiki/Price_mechanism
    A free price system or free price mechanism (informally called the price system or the price mechanism) is a mechanism of resource allocation that relies upon prices set by the interchange of supply and demand. The resulting price signals communicated between producers and consumers determine the production and distribution of resources.
    en.wikipedia.org/wiki/Free_price_system
     
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  8. 3.2.1: Introducing the Market System - Social Sci …

    WEBSep 21, 2020 · Identify the characteristics of a market system. In an economy, a market system is any systematic process that enables many market players to bid and ask. In other words, a market system is a …

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  11. Price System of an Economy: Meaning, Working and …

    WEBThe price system is one in which all economic decisions are taken through the medium of prices which are, by nature, self- adjusting and self-correcting—though every decision-taker acts selfishly. As there is no …

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