Why are prices important in a market economy?

The price of goods plays a crucial role in determining an efficient distribution of resources in a market system. Price acts as a signal for shortages and surpluses which help firms and consumers respond to changing market conditions. ... Falling price encourage people to buy, and cause firms to try and cut back on supply.

Explanation:

They let businesses find out what people want so they can supply it.

Explanation:

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i think a judge or jury, as they preside over the court and is the central figure in a trial.

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