• In our mixed economic system, who really decides prices? Producers or Consumers?

In answering this question, you may want to consider the following issues:

• Is it necessary for producers and consumers to sit down and discuss price levels?
• What role do brand names play in prices and your purchasing habits?
• Does the law of demand always hold true?
• Why do producers spend so much money on advertising, shaping our tastes and preferences?
• Are there markets where you see a need for price controls?

Answer rating: 100% (QA)

Answer In a mixed economic system both producers and consumers influence prices but neither solely d... View the full answer