In about 300 words explain why prices are an important aspect of how goods and services are allocated in a market economy. Pick an example of a good or service and explain the role that its price plays in determining who received it.

PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease.   Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef. Prices of corn and soybeans, used as feed for cattle and chicken, have leapt over the past six months, pushing up meat prices. As a result, meat prices have also increased. Restaurant chain Johnny Rockets, known for its burgers, uses about eight million pounds of ground beef a year, and its prices have risen over the last two months, says Ray Masters, senior vice president of purchasing and distribution. Fill in the Answer sheet for the article. Make sure you fill in the graph using a ⬆  Leave it blank if there is no change.  Use a ?  If you can’t tell if there is a decrease or an increase. Use the graphs attached…

One way to promote a new business is to sell a popular item at a massive discount. If Jared were to open a clothing store and sell high-end dress shoes for $100 a pair, he would likely have a line out the door. How would an economist understand the behavior of those standing in line?

Name the three main economic markets, and describe how an individual might participate in each one as a buyer or a seller