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What kind of economy is one in which individuals and businesses make most economic decisions?
Wiki User
∙ 10y ago
Market.
Wiki User
∙ 10y ago
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What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Government makes some economic decisions individuals and companies make other decisions?
Mixed economy.
What is an economic system in which individuals make decisions on what to produce called?
Market Economy
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Government makes some economic decisions individuals and companies make other decisions?
Mixed economy.
What is an economic system in which individuals make decisions on what to produce called?
Market Economy
What economy has economic freedom competition between businesses and decisions motivated by profit?
Market
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What is a centrally-planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
What is a centrally planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
What is the difference between traditional economy and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
What is the basic consuming unit in the economy?
The Economic Unit. Composed of millions of individuals, businesses, and government units.
What is true about a mixed economy?
Businesses are free to make many choices, but they face some government regulation
What is the difference between a traditional and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
