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What is freemarket system?
It means the the business is privately owned and operated. It is not owned or controlled by the goverment.
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
In a freemarket system consumers let producers know what they want to buy and how much theyre willing to pay through what?
Their purchases.
What combines free enterprise and government decisions in the marketplace?
freemarket
What countries use freemarket capitalism?
United Arab Emirates, for one.
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
What are three main economics for economic system?
There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .
Why is it that there is no ideal economic system?
no ideal economic system
What the economic system vs political system?
What the Economic system v. political system
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
