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Free market economy
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What is a system in which individuals own factors of production and make economic decisions?
mixed economy
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.
What is the difference between a traditional and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
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.
What is the difference between traditional economy and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
What is the difference between a traditional and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
An economic system in which individuals own the factor of production and make their own decisions?
capitalism
Who makes decisions in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What happens in a free enterprise system?
It provides individuals the opportunity to make their own economic decisions.
Who argued that individuals should own and control businesses and make all the decisions about them?
Adam Smith. CAVA
Who argued that individuals should own and Control businesses and make all the decisions about them.?
Adam Smith. CAVA
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.
