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Free price system - Wikipedia A free price system or free price mechanism (informally called the price system or the price mechanism) is a mechanism of resource allocation that relies upon monetary prices set by the interchange of supply and demand.The resulting prices serve as signals communicated between producers and consumers which serve to guide the production and distribution of resources. Monetary system - Wikipedia A commodity money system is a monetary system in which a commodity such as gold or silver is made the unit of value and physically used as money. The money retains its value because of its physical properties. In some cases, a government may stamp a metal coin with a face, value or mark that indicates its weight or asserts its purity, but the value remains the same even if the coin is melted down. Implementing Monetary Policy: Perspective from the Open ... Working within the Federal Reserve System, the New York Fed implements monetary policy, supervises and regulates financial institutions and helps maintain the nation's payment systems.
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