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Is rationing used in a free market economy?
Technically no, but the government can intervene in some cases and ration even in a capitalistic market. A ration of goods that is below the demand will cause shortages and will create massive lines as seen in the 70's with gas and the 30's with bread.
What are the rules of households and firms in a market economy?
In a market economy, firms make the goods. Households buy the goods.
Who consumes the goods and services market economy?
You Do!
Is England an planned economy?
No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.
In what form of economy do consumers help to determine the distribution of goods?
Market Economy
Is rationing used in a free market economy?
Technically no, but the government can intervene in some cases and ration even in a capitalistic market. A ration of goods that is below the demand will cause shortages and will create massive lines as seen in the 70's with gas and the 30's with bread.
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
What are the roles of households and firms in the market economy?
in a market economy, firms make the goods. Households buy the goods
What are the roles of household and firms a market economy?
in a market economy, firms make the goods. Households buy the goods
What are the rules of households and firms in a market economy?
In a market economy, firms make the goods. Households buy the goods.
What economy are the greatest variety of goods available?
Market economy
What are the roles of household and firm in a market economy?
Consider an economy consisting of households and firms which interact in two markets i.e. the goods and services market in which firms sell and households buy; and the labor market in which households sell labor to business firms or other employees. Required: Illustrate the above economy on a diagram
Who consumes the goods and services market economy?
You Do!
Who introduced the market economy to Africa?
The Colonial Governments introduced the market economy. In which goods were bought and sold.
Is England an planned economy?
No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.
In what form of economy do consumers help to determine the distribution of goods?
Market Economy
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
