Price system

In economics, a price system is a component of any economic system that uses prices expressed in any form of money for the valuation and distribution of goods and services and the factors of production. Except for more economically isolated communities, all modern societies use price systems to allocate resources, although price systems are not used exclusively for all resource allocation decisions.

Price system

In economics, a price system is a component of any economic system that uses prices expressed in any form of money for the valuation and distribution of goods and services and the factors of production. Except for more economically isolated communities, all modern societies use price systems to allocate resources, although price systems are not used exclusively for all resource allocation decisions.