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Free-Market system
Free-market system
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
Individual goods
They make the economic decisions.
Consumers and producers
Free-Market system
Free-market system
Consumers and Producers.
Consumers and Producers.
The free-market system has a circular flow of influences.
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
Individual goods
They make the economic decisions.
To allow consumers and producers to make their own decisions
C. They make the economic decisions