Fill blanks, please?

Guys, you can fill in the lines for me, it will be easy for you, I’m just not a native speaker of English and it’s difficult for me and I didn’t find answers on the Internet.

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2 Answers

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  • Anonymous
    4 weeks ago

     

    A free market economy uses PRICES as the principal means of allocating resources. Prices are determined by the interaction of DEMAND and SUPPLY. Consumers express their references through their demand for goods and servicies. This is known as CONSUMER SOVEREIGNTY. If consumers increase their purchase of a good and the level of DEMAND exceeds SUPPLY, then prices will tend to rise. This will make the production of this good more PROFITABLE and attract more FIRMS into the market. This extra SUPPLY of the good will bring prices down and restore EQUILIBRIUM in the market. If markets work perfectly throughout the economy, then this should ensure ALLOCATIVE EFFICIENCY.

  • Anonymous
    4 weeks ago

    There are actually many potential words or phrases that would make sense in some of those blanks. Do you have a vocabulary list you are supposed to use?

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