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What is one way a market economy affects the lives of private citizens?
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What is the name of an economic system in which private citizens own the factors of production?
I believe the answer is "a command economy"It is market economy
What type of economy does individuals and private groups make decisions about what to produce?
Market economy
Who is in control in a market economy?
In a free-market economy, private individuals or groups are in control
Why must private ownership of property be guaranteed before a free market economy will work?
Private ownership of property is essential to a free market economy. Without private ownership of property a free market economy cannot exist.
What is production determined by individuals and private groups?
A market economy
What is the name of an economic system in which private citizens own the factors of production?
I believe the answer is "a command economy"It is market economy
What type of economy does individuals and private groups make decisions about what to produce?
Market economy
Who is in control in a market economy?
In a free-market economy, private individuals or groups are in control
Why must private ownership of property be guaranteed before a free market economy will work?
Private ownership of property is essential to a free market economy. Without private ownership of property a free market economy cannot exist.
What type of economy is not under private control?
A market economy is not under the private control. A command economy is one where decisions are made by the government only, thus making it a private economy. In market economy, anyone can decide what business to do and what to make.
What is production determined by individuals and private groups?
A market economy
What is a production determined by individuals and private groups?
A market economy
What is the name for an economy in which private enterprise and government regulation coexist?
market economy
What is the basis of a market economy?
Supply And Demand is the basis of most activity in a market economy.
Which economic system is defined by a free market and private ownership?
It is generally known as a market economy. In this economy, the choices are made by the people and not the government.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
