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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.
What else can I help you with?
What type of economic system does the passage describe?
Market-Apex
What are the different economic system?
traditional economic system command economic system market economic system
What are the three different economic system?
traditional economic system command economic system market economic system
Does Germany have a market or mixed economic system?
it has an market system for Germany it has an market system for Germany
How is the economic system of Puerto Rico?
the economic system is free market. I'm not sure how it is but you can look up Puerto Rico's free market economic system
What type of economic system does Turkey have?
Its a Free market economic system
What economic system do Romania presently use?
Free market economic system
What economic system does Romania have?
Now is a free market system.
What is the current economic system for japan and the US?
The US and Japan have what I would describe as a mixed economy; this is a free market, with substantial government regulation.
What economic system is Romania currently using now?
Free market economic system
What is the definition of an Economic System?
The system of production and distribution and consumption.A.Free-market economyAn economic system where decisions are made by producers and consumers.C.Mixed economyAn economic system that uses both free-market and command principles.B.Planned economyAn economic system run by the government.
What kind of economic system does Chile have?
A Market command system
