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6-2 vocabulary jw
| Question | Answer |
|---|---|
| Occurs when producers sell products at lower prices to lure customers away from rival producers, while still making a profit. | Competitive pricing |
| What are four characteristics of a price system? | Neutral-doesn't favor producer or consumer Market driven Flexible--market changes/prices can adapt Efficent |
| Something that encourages people to act in certain way. | Incentive |