I'm going to infer a "What is an..." in front of your question. The answer would then be Free Market Capitalism. Please do your homework yourself though.
demand economy
hih
a economy where people decide what to make and who to sell it to.
Which group of people untimately determines the products that a free enterprise economy produce
Free/market economy
Different people like different things...
Consumers
a economy where people decide what to make and who to sell it to.
Which group of people untimately determines the products that a free enterprise economy produce
Free/market economy
government and people created market economy . Because government decide the market price . But sometimes people make their own market prices to get more money.
Different people like different things...
Consumers
The demand for a particular good or service will determine its value.
A command economic system is one in which people rely on the government to decide what products will be produced and who the products will be distributed to after they are produced.
The people who run the oil will make a little less profit. The economy as a whole will expand because products will get cheaper.
In a traditional economy, the decision to make certain products is decided by the people, but designed around traditions, customs, and beliefs.
The people who run the oil will make a little less profit. The economy as a whole will expand because products will get cheaper.
Business firms helps to uplift the economy in doing researches looking into the future on how to implements inputs and outputs devices on moving the economy forward. They also hire people, creating jobs, and produce products which people buy, creating capital. Along with government support, they are very important to the economy.