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 In a capitalist economy the allocation of resources is performed by:
  • a)
    Producers
  • b)
    Price mechanismes
  • c)
    Planners
  • d)
    Price mechanism 
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
In a capitalist economy the allocation of resources is performed by:a)...
The role of price mechanism in a free market economy or capitalism:
The price system functions through prices of both goods and services. Prices determine the production of innumerable goods and services.
They organise production and help in the distribution of goods and services, ration out the supplies of goods and services and provide for economic growth.
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In a capitalist economy the allocation of resources is performed by:a)Producersb)Price mechanismesc)Plannersd)Price mechanismCorrect answer is option 'D'. Can you explain this answer?
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