Quote (noob_whacker @ Jan 28 2014 06:03pm)
Who decides what to produce in a price system?
pretty sure its the sellers?
but sorta not the sellers? they just sell it.
this isnt too in depth of a question though.
so its sorta the sellers and buyers both decide in a way, cause price signaling?
In a purely fixed price system, the government decides what will be produced and in what quantity.
In a purely free price system, these questions are decided solely by the market.
Disclaimer: I don't recall the
technical definition of price system