Chapter 7: Consumers, Producers and the Efficiency of Markets
- Cornell University
- Economics 1110
- Chapter 7: Consumers, Producers and the Efficiency of Markets
Last Modified: 2012-12-11
Related Textbooks:Principles of Microeconomics
Free markets allocate the supply of goods to the buyers who value them most highly, as measured by their willingness to pay.
Free markets allocate the demand for goods to the sellers who can produce them at the lowest cost.
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