Also question is, what is dual price policy?
Dual pricing is a situation in which the same product or service is sold at different prices in different markets. The intent is to drive out other competitors and then raise its prices once the other parties are no longer selling in the market. This practice can be illegal.
Additionally, what is meant by the dual role of prices? By “dual roleâ€, we mean that prices not only reflect the underlying economic fundamentals, they are also an imperative to action. That is, prices induce actions on the part of the economic agents. Financial crises could almost be defined as episodes where the allocational role of prices break down.
In respect to this, what is the dual track system in China?
A dual-track system is an economic system in which the government controls key sectors of the economy, while allowing private enterprise limited control over the other sectors. In China, the government followed dual-track pricing until abolished in November 1989, known as "shuangguizhi" in Chinese.
What is double price?
n. (Commerce) economics the setting of different prices to be charged to different consumers or in different markets for the same goods or services.
