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Consumers and producers
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Who makes decisions in a free market system?
In a free market system
Who makes the decisions in a free-market system?
Consumers and producers
Who makes all decisions in a free market system?
Consumers and Producers.
Who makes economic decisions in a free-market system?
Consumers and Producers.
Who makes the economics decisions in a free market system?
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What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
What type of system does the government make no economic decisions?
The type of system where the government makes no economic decisions is known as a free-market economy. In this system, economic decisions are driven by individual choices and market forces, such as supply and demand. Businesses and consumers operate with minimal government intervention, allowing for competition and innovation. This approach promotes efficiency and consumer choice but can also lead to inequalities and market failures.
Who makes the economic decisions in a market economy?
The Market or if you want a "who", consumers and producers.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Who makes the the main economic decisions in a free-market system?
The terms free market Economics and capitalism are used relatively interchangeably because both refer to a system where BUSINESS OWNERS make local decisions to produce, sell, and buy various products based on MARKET DEMAND, rather than government demands.
Who makes economic decisions for market?
The people who is in head of the business.
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
