they are bought and sold by the people (gradpt)
An economy is a system for producing goods and services.
is the system of production,distribution and consumption of goods and services of an economy
Free Market is characterized by the unregulated exchange of goods and services.
market
In a market economy, a free price system is used to determine the cost of goods and services. Also, decisions about things like production and distribution are made based on supply and demand, rather than dictated by a government.
In a market economy, a free price system is used to determine the cost of goods and services. Also, decisions about things like production and distribution are made based on supply and demand, rather than dictated by a government.
The government makes decisions about production and distribution of goods and services.
The Market
An Economist studies the production distribution and consumption of goods and services
An Economist studies the production distribution and consumption of goods and services
An economy refers to the system of production, distribution, and consumption of goods and services in a region or country. It involves factors such as resources, market demand, government policies, and economic agents like consumers, businesses, and governments. The economy can be classified based on characteristics like market structure, level of development, and economic activities.
Free Market (OW)