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The price someone is willing to pay - in other words, the market.
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What economic systems does US use?
The US of A has a mixed economy - a combination of market economy and command economy.
Who sets prices in a capitalist system?
The companies
What factor determines whether a country's economy is more or less capitalist?
m
Another term for a capitalist system is a?
Another term for a capitalist system is a Laissez-faire system.
Who determines prices?
supply and demand
What economic systems does US use?
The US of A has a mixed economy - a combination of market economy and command economy.
Who sets prices in a capitalist system?
The companies
What factor determines whether a country's economy is more or less capitalist?
m
What is econmics systems?
Liberal, capitalist, free market
Another term for a capitalist system is a?
Another term for a capitalist system is a Laissez-faire system.
What kind of economics systems does a capitalist country have?
Free-market
Who determines prices?
supply and demand
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
The excerpt below is from Adam Smith and The Wealth of Nations. Which of his economic philosophies can be seen in modern free enterprise systems?
Capitalist countries rely on competition between businesses to set fair prices for goods.
What economic system did the Eskimos have?
A pre-capitalist systems based on sustenance.
What type of economic systems does the Gambia has?
Semi Capitalist
What are the three types of economic systems?
The three types of economic systems are centrally planned, traditional, and free market (or capitalist).
