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To maximize happiness subject to the constraint of limited income.
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∙ 13y ago
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Why is the consumer king in a market economy?
because the market economy is driven by demand and consumer is the one who demands
What motivates the Market economy?
the purchase of a consumer (CONSUMER) (: welcomeee
In which type of economy are choices made by consumers?
market
All of these are describing what market type of market structure?
Four types of markets are institutional, B2B, consumer, and reseller.
Who makes the decisions in the market economy?
The consumer who influences the market and the country's laws regarding business.
Why is the consumer king in a market economy?
because the market economy is driven by demand and consumer is the one who demands
What motivates the Market economy?
the purchase of a consumer (CONSUMER) (: welcomeee
In which type of economy are choices made by consumers?
market
All of these are describing what market type of market structure?
Four types of markets are institutional, B2B, consumer, and reseller.
What type of economy is driven by producers responding to consumer preferences?
market
Which is not a feature of a market economy?
The price a consumer pays is set by the government. A+
Who makes the decisions in the market economy?
The consumer who influences the market and the country's laws regarding business.
What is the goal of all economic decisions in the market economy?
utility maximization
Who controls production in a pure market economy?
The people (aka. consumer sovereignty).
What is the 5 characteristics of the US economy?
Mixed economy Consumer sovereignty Competition Private property Free market
Which of the following terms best describes an economy in which producers of goods and services react to consumer choices?
market economy
In which type of economy are the producers of goods and services able to react to consumer choices?
Capitalist. Aplus answer Market
