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What is the system of a business in which individuals are free to decide what to produce how to produce it and at what price to sell it?
Wiki User
∙ 8y ago
economic system
Wiki User
∙ 8y ago
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What is an economic system in which individuals make decisions on what to produce called?
Market Economy
What In a free enterprise system what motivates individuals to start a business?
need jobs for security
If a market system is based on consumer sovereignty then how can business decide what is to be produced?
Test market in a small region or area first.
When a country has a market economy which of these statements correctly defines this system?
Companies produce goods of their choice and consumers decide whether to buy the goods
Which economic system decide what to sell and what price?
If the government is deciding which goods to sell and at what price, it is known as a command economy. If individuals are deciding, it is known as a market economy.
How are the economies of Canada and the US the same?
They both have a free enterprise system which means they allow you to own property, and business and are free to decide what to make, how much to produce, and what price to charge.
What is a system that sets rules for how people decide what goods and services to produce and how they are exchanged?
Econcomic System
What economic system allows business owners decide what to sell and at what price?
The open economic system is the one that allows business owners decide what to sell and at what price. This is usually quite unfair for the consumers.
What is an economic system in which individuals make decisions on what to produce called?
Market Economy
What kind of phone system should I buy for my business?
buyerone.com can help you decide what phone system is appropriate for your business needs. Since each business has its own unique set of needs, buyerone.com can individualize a system for you.
What is given to a system of trade in which individuals can operate from profit from business?
free market economy
What In a free enterprise system what motivates individuals to start a business?
need jobs for security
If a market system is based on consumer sovereignty then how can business decide what is to be produced?
Test market in a small region or area first.
When a country has a market economy which of these statements correctly defines this system?
Companies produce goods of their choice and consumers decide whether to buy the goods
Which economic system decide what to sell and what price?
If the government is deciding which goods to sell and at what price, it is known as a command economy. If individuals are deciding, it is known as a market economy.
What in an economic system in which most economic activity occurs in the private sector where business is conducted by individuals or organizations in order to make a profit?
capitalism
What term means that the government leaves individuals free to own business and make a living depending on their own initiative?
Free enterprise system
