In a market, buyers and sellers are coordinated through
A)the government.
B)the information about price.
C)personal communication with each other.
D)information gained from outside the market.
E)collective bargaining in large groups.

Question

Quizplus · Accepted Answer

Buyers and sellers are coordinated through the information about price. Prices act as signals that communicate the desires of buyers and the availability of sellers, allowing them to make voluntary exchanges based on their own self-interest. This process is known as the price mechanism, which is the basis of a market economy. Options A, C, D, and E are not accurate descriptions of how markets work.

In a Market, Buyers and Sellers Are Coordinated Through