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In this type of economy the average person has the freedom to make economic decisions?
Market
In what type of economy does the average person have the freedom to make economic decisions?
Market
What type of economy best fits this description All economic decisions are based on age-old customs.?
Traditional
What type of economy best fits description the average person has the freedom to make economic decision?
market A+
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.
In what type of economy does the average person have the freedom to make economic decisions?
Market
In this type of economy the average person has the freedom to make economic decisions?
Market
In this type of economy the average person has the freedom to make economic decisions.?
Market
What type of economy best fits this description All economic decisions are based on age-old customs.?
Traditional
What type of economy best fits description the average person has the freedom to make economic decision?
market A+
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.
What type of economy is it where all economic decisions are based on age-old customs?
A traditional economy is where all economic decisions are based on age-old customs.
An economy in which only the government makes economic decisions is a?
Centrally Planned Economy
Who makes decisions for a mixed economy?
Government officials and legislatures make economic decisions
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
In a traditional economy what are the economic decisions based largely on?
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
In what economy does the average person have freedom to make economic decisions?
In a market economy, the average person typically has the freedom to make economic decisions. This system allows individuals to choose how to spend their money, what to produce, and how to invest, fostering competition and innovation. Consumers and producers interact freely within the marketplace, influencing supply and demand. Such an environment encourages personal initiative and entrepreneurship.
