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Question
In a free-market economy, the services of ___________ are available only at some price.
In a free-market economy, the services of ___________ are available only at some price.
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Solution
The correct option is B factors of production
In a free market economy,
prices of commodities in the market are affected by the forces of demand and
supply that generates open competition in the market which leads to optimum
allocation and utilization of resources because the prices of the factor of production depends upon the demand and supply of the commodities produced by it.
In a free market economy, prices of commodities in the market are affected by the forces of demand and supply that generates open competition in the market which leads to optimum allocation and utilization of resources because the prices of the factor of production depends upon the demand and supply of the commodities produced by it.
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