The following is no true of price mechanism

Explanation

This Economics question is asking which statement is not true about price mechanism. Price mechanism refers to the way prices of goods and services are determined by the forces of demand and supply in the market. The options given are:

Option A: Equilibrium price is determined by forces of demand and supply

Option B: Individual households and firms pursue personal interest

Option C: Producers and consumers are rational in decision making

Option D: Price control is prominent in me commodity and input markets (Correct)

Option A is true because equilibrium price is the price at which quantity demanded equals quantity supplied in the market.

Option B is also true because firms aim to maximize profit while households aim to maximize utility.

Option C is also true because producers and consumers make decisions based on their own self-interest, and they do so rationally by weighing the costs and benefits of their decisions.

Option D is the correct answer because price control is not prominent in commodity and input markets. Price control refers to the government setting prices for goods and services, which is not common in these types of markets.

In summary, the correct answer is D because price control is not common in commodity and input markets. The other options are true statements about price mechanism.