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In a market economy, a free price system is used to determine the cost of goods and services. Also, decisions about things like production and distribution are made based on supply and demand, rather than dictated by a government.
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∙ 9y ago
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Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
What describes the american economic system?
Mixed-market. A+
Which of these describes the economic theory of laissez-faire?
An economic system should be driven by free market forces, not government intervention. A+
Is the free market economy the same as the market economic system?
yes!!Not really. A "free market" is generally a micro-economic term, and describes the conditions where consumers and suppliers form an economic exchange generally free of outside price controls. A "market economy" is a macro-economic term, and describes one of many different large-scale economic forms which use a free market micro-economy as its basis, but have a varying degree of regulation layered on top.
What are the different economic system?
traditional economic system command economic system market economic system
Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
What best describes japan's economic system?
Mixed/Market
What describes the american economic system?
Mixed-market. A+
Which of these describes the economic theory of laissez-faire?
An economic system should be driven by free market forces, not government intervention. A+
Is the free market economy the same as the market economic system?
yes!!Not really. A "free market" is generally a micro-economic term, and describes the conditions where consumers and suppliers form an economic exchange generally free of outside price controls. A "market economy" is a macro-economic term, and describes one of many different large-scale economic forms which use a free market micro-economy as its basis, but have a varying degree of regulation layered on top.
What are the different economic system?
traditional economic system command economic system market economic system
What are the three different economic system?
traditional economic system command economic system market economic system
Does Germany have a market or mixed economic system?
it has an market system for Germany it has an market system for Germany
How is the economic system of Puerto Rico?
the economic system is free market. I'm not sure how it is but you can look up Puerto Rico's free market economic system
What type of economic system does Turkey have?
Its a Free market economic system
What economic system do Romania presently use?
Free market economic system
What economic system does Romania have?
Now is a free market system.
