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An economic system in which relative prices are constantly changing to reflect changes in supply and demand for different commodities. The prices of those commodities are
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Unformatted text preview: signals to everyone within the ststem as to what is relatively scarce and what is relatively abundant....
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This note was uploaded on 09/27/2008 for the course ECON 205 taught by Professor Kamrany during the Fall '07 term at USC.

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