Tag Archives | Price System

Role of Price System in Modern Economics

In this article we will discuss about the role of modern economics in modern economics. Also learn about the merits and advantages of price systems. Economics is the study of how man can provide for his material well-being. Although man does not live by bread alone, it is equally true that he cannot live without it. An underlying problem in [...]

By Nipun S|2017-01-13T05:58:26+05:30January 13, 2017|Modern Economics|Comments Off

Mechanism of Price System | Market

In this article we will discuss about the mechanism of price system. Also learn about its functions and purposes. All economies face the same problems although their approach to solving them may differ. In a capitalist country, or even in a mixed economy like our own, prices perform, or can be used to perform, three basic functions: 1. The allocation [...]

By Nipun S|2017-01-13T05:58:26+05:30January 13, 2017|Price System|Comments Off

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