0
In a free market system, customers and producers play complementary roles. Producers supply goods and services based on consumer demand, striving to meet preferences while maximizing profits. Customers, on the other hand, drive demand by making purchasing decisions that reflect their needs and desires. This interaction establishes prices and influences the allocation of resources, fostering competition and innovation within the market.
What else can I help you with?
An economic system where decisions are made by producers and consumers are what?
Free-Market system
Consumers and producers drive pricing and production?
Free-market system
Why is the free-market system system brings effiency as well as freedom?
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
What is the role of consumers and producers in a free-market system?
They make the economic decisions.
What is provided by producers in the circular flow of the free market system?
Individual goods
Who makes the decisions in a free-market system?
Consumers and producers
An economic system where decisions are made by producers and consumers are what?
Free-Market system
Consumers and producers drive pricing and production?
Free-market system
Who makes economic decisions in a free-market system?
Consumers and Producers.
Who makes all decisions in a free market system?
Consumers and Producers.
What results the fact that a free market is based on the free choices of consumers and producers?
The free-market system has a circular flow of influences.
Why is the free-market system system brings effiency as well as freedom?
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
Why is the free market system system brings effiency as well as freedom?
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
What is the role of consumers and producers in a free-market system?
They make the economic decisions.
What is provided by producers in the circular flow of the free market system?
Individual goods
What is the purpose of a free market system?
To allow consumers and producers to make their own decisions
What is the purpose of a free-market system?
To allow consumers and producers to make their own decisions
