Pricing Flexibility
Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?
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Another thing is through price flexibility manufacturers and producers are able to avoid cases of incurring loses. This is because they are able to identify a product which is in low demand and consumers are only willing to pay less for the product so as to cut is supply. Also through price flexibility consumers are able to negotiate so as they can buy a product depending…
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