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What type of economy best fits this description where The average person has the freedom to make economic decisions?
Wiki User
∙ 13y ago
The type of economy you are looking for is Market. It allows individuals to decide for themselves, but then there is a lot of competition. the ones who are poor/the ones that loose, will end up in poverty.
Wiki User
∙ 13y ago
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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 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
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
Which of the terms describes an economy in which prices form the basis for economic decisions?
market or market economy
