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Who ha pure market economy?
In a pure market economy, producers and consumers have the freedom to make their own economic decisions, without those decisions being guided or dictated by a central controlling mechanism.
What will most efficiently provide products?
A market economy with many producers
Competition between producers help keep prices down in this type of economy?
competween producers helps keep prices down in this type of economy?
What are three kinds of producers in an economy?
In an economy, three kinds of producers include primary producers, secondary producers, and tertiary producers. Primary producers extract raw materials from nature, such as farmers and miners. Secondary producers transform these raw materials into finished goods, like manufacturers and artisans. Tertiary producers provide services rather than goods, including retail businesses and healthcare providers.
Match the economic system with the players who are responsible for the important economic decisions.?
Command economy: Government planners. Free-market system: Costumers and producers. Mixed economy: Government officials and producers
Government tells producers how and what to produce?
Command economy
In what economy does the average person have freedom to make economic decisions?
In a market economy, the average person typically has the freedom to make economic decisions. This system allows individuals to choose how to spend their money, what to produce, and how to invest, fostering competition and innovation. Consumers and producers interact freely within the marketplace, influencing supply and demand. Such an environment encourages personal initiative and entrepreneurship.
How does consumer confidence affect the economy?
Increases purchases from producers
What will efficiently provide products?
A market economy with many producers
Competition among producers helps keep prices down in this type of economy?
In a market economy, the competition between producers helps keep the prices down. This is an economic practice that is based solely on supply and demand.
Match the economic system with the players who are responsible for the important economic decisions?
Command economy: Government planners. Free-market system: Costumers and producers. Mixed economy: Government officials and producers
In a socialist society the government does not do which of the following?
provides freedom of choice for producers
