11. Then the neoclassical synthesis had restored the price mechanism to its position of prominence in matters touching on the allocation and the distribution of resources. 12. The price mechanism is the most critical component of a market economy. 13. To economists, financial markets are efficient price discovery mechanisms. 14. But the U.N. Sanctions Committee, concluding that the proposed prices did not represent a fair market value, rejected the price mechanism. 15. Dr Sulaiman, however, stressed that it was not an easy task to eliminate the role of middlemen or to implement a price mechanism to control their activities. 16. He also claimed to have rallied support for the price band mechanism. 17. Naimi said the price band mechanism agreed to at an OPEC meeting in March will trigger any necessary changes in output. 18. The challenge for Supachai is how to adjust the price mechanism to determine an appropriate domestic sugar price. 19. The price stabilisation mechanism will continue indefinitely but will be reviewed regularly. 20. I believe that during this period, the price band mechanism should be suspended. |