Price mechanism

Price mechanism,

Definition of Price mechanism:

  1. System of interdependence between supply of a good or service and its price. It generally sends the price up when supply is below demand, and down when supply exceeds demand. Price mechanism also restricts supply when suppliers leave the market due to low prevailing prices, and increases it when more suppliers enter the market due to high obtainable prices. Also called price system.

Meaning of Price mechanism & Price mechanism Definition

Price Mechanism,

What is The Definition of Price Mechanism?

  1. Explain how changes in supply and demand affect the prices of goods and services. Shortage pushed prices up, Fazil pushed prices down.

Literal Meanings of Price Mechanism

Price:

Meanings of Price:
  1. Determine the amount of money required (something offered for sale)

  2. The amount that is given as an expectation, need, or payment of something.

  3. Undesirable experiences, events or actions that are necessary as conditions for achieving the desired goal

Sentences of Price
  1. The cost of watches in this range is 14.50

  2. Land can be sold at a higher price.

  3. The price of success is fighting all day long

Synonyms of Price

figure, appraise, estimate, result, assess, toll, charge, fix the price of, cost, sacrifice, forfeiture, penalty, consequence, fee, value, rate, forfeit, amount, fare, asking price, set the price of, terms, evaluate

Mechanism:

Meanings of Mechanism:
  1. A system of parts that works together in a machine that is part of a machine.

  2. A natural or established process by which something happens or is created.

  3. The theory that all natural phenomena, including life and thought, allow mechanical explanation through physics and chemistry.

Sentences of Mechanism
  1. In the bridge mechanism, the sniper injured his arm

  2. We have no procedure for estimating the success of applications submitted

  3. Much of this controversy stems from the mechanics vs. vitality argument.

Synonyms of Mechanism

instrument, contraption, gadget, tackle, process, device, appliance, implement, channel, utensil, technique, method, channels, procedure, machine, means, medium, vehicle, apparatus, system, agency, operation, structure