How Do Markets Work
- Created by: phoebe salisbury
- Created on: 06-01-15 14:16
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- How Do Markets Work
- Exchange
- there are buyers and sellers that communicate.
- they help the market work
- there are buyers and sellers that communicate.
- Specialisation
- concentrating on creating the products most efficiently
- allows us to produce more
- concentrating on creating the products most efficiently
- Competition
- prices change in response to the market.
- if competition has a lower price, consumers will go to them instead.
- prices change in response to the market.
- Exchange
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