'The price of a good allows some to afford it and others are prevented from purchasing the good' - this describes which function of price?

'The price informs the consumer about the importance of the good/service.' - this describes which function of price?

'The price can encourage a supplier to sell particular goods/services' - this describes which function of price?

Supermarket profits increase as they increase the price of avocados, in response the supermarkets feel confident purchasing more avocado supplies - this describes which function of price?

Plastic carrier bags increase in price from 5p to 10p in supermarkets to inform customers about the importance of re-using or avoiding plastic bags - this describes which function of price?

Ferrari sets it's super car prices significantly higher than the average family car - this describes which function of price?

Which of the following is traded in a product market?

Which of the following is 'traded' in a factor market?

Which of the following is 'traded' in a product market?

Which of the following is 'traded' in a product market?

Which of the following is 'traded' in a factor market?

Which of the following is mostly commonly 'traded' in a factor market?

A market describing the trade of items that are needed in the production process i.e. land, labour, capital.

A market describing the trade of completed and final products and services.