0
An economy in which the buyers and sellers determaine what goods are produced is called?
Wiki User
∙ 10y ago
A Free Market is where buyers and sellers determine what goods or produced.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
Who answers the 3 basic economic questions in a market economy?
by the interaction of buyers and sellers in a marketplace.
What was the invisible hand theory propsoed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers
What was the invisible hand theory proposed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers.
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
Who answers the 3 basic economic questions in a market economy?
by the interaction of buyers and sellers in a marketplace.
What was an established and regulated exchange for business between buyers and sellers on a regular basis?
market economy
What was the invisible hand theory proposed by smith?
the economy will automatically adjust to the needs of buyers and sellers.
What was the hand theory proposed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers.
What was the invisible hand theory propsoed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers
What was the invisible hand theory proposed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers.
Why there is a large number of sellers and buyers in monopolistic competition?
large numbers of buyers and sellers
Which of the following best describes the concept of equilibrium price?
A. Sellers are happy with the price, but buyers are unhappy with the quantity. B. Sellers are unhappy with the price, but buyers are happy with the quantity. C. Both sellers and buyers are unhappy with the price and quantity. D. Both sellers and buyers are happy with the price and quantity.
Numbers of sellers in a market?
perferct competition are a large number of buyers and sellers.
What determines how the burden of a tax is divided between buyers and sellers?
The burden of tax is divided between buyers and sellers by the forces of supply and demand.
