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A market economy or free market where businesses are free to sell and make their own prices for goods?
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Is England an planned economy?
No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
When trying to decide what to produce businesses will look at the demand for their goods of what type of economy?
market.
What type of economy is this When trying to decide what to produce businesses will look at the demand for their goods?
This cannot be answered. This does not make any sense.
Under what economic system do businesses primarily consider the demand for their goods?
A market-based economy.
How does the market economy function?
Market economy functions under the price mechanism. Prices of goods and serviced are determined by the interaction of demand and supply forces.
Who decides what goods and services will be produced in a market economy?
In a market economy, it is the producer, typically influenced by the demands of the consumer, who makes decisions about what to produce. This is in contrast to a command economy where the government makes those decisions.
Which of the following is another term for a market economy?
A market economy, also widely known as a "free market economy," is one in which goods are bought and sold and prices are determined by the free market, with a minimum of external government control.
What is an economic system in which production of goods and services is determined by demand from consumers?
A market economy is an economic system in which the production of goods and services is determined by the demand from consumers. Prices are set by supply and demand in the market, and businesses respond to consumer preferences in order to maximize profit.
What type of economic market does not need to advertise?
A market where there is no choice, maybe, like a command economy, where goods and prices are set by the government.
What is America's economy?
Market economy.Consumers decide which goods and services they want, and are provied by businesses that are mostly privately owned
What type of economy best fits this description When trying to decide what to produce businesses will look at the demand for their goods?
market A+
