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  • 27-08-2019
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How are prices determined in capitalists economic?

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gracie8467 gracie8467
  • 27-08-2019
In a capitalist society the prices of goods, services and labour are determined by supply and demand. If a lot of people want to buy a certain product its price will go up. Products that are mass produced usually have low prices. Another important feature of capitalism is competition.
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