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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.
The Market or if you want a "who", consumers and producers.
Interaction between producers and consumers
True
Free market
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.
Producers are compete freely for consumers' business.
True
The Market or if you want a "who", consumers and producers.
Interaction between producers and consumers
Producers are compete freely for consumers' business.
Free market
Prices, Demand, Personal Preferences and Productions.
Workers play both as consumers and producers.
producers to supply more and consumers to buy less.
Consumers are important because they are the people who actually buy the goods made by the producers
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.