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The terms free market economics and capitalism are used relatively interchangeably because both refer to a system where BUSINESS OWNERS make local decisions to produce, sell, and buy various products based on MARKET DEMAND, rather than government demands.
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Who makes the economic decisions in a market economy?
The Market or if you want a "who", consumers and producers.
Who makes decisions in a free market system?
In a free market system
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.
Who makes economic decisions for market?
The people who is in head of the business.
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
Who makes economic decisions in a free-market system?
Consumers and Producers.
Who makes the economic decisions in a market economy?
The Market or if you want a "who", consumers and producers.
What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
Who makes decisions in a free market system?
In a free market system
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.
Who makes economic decisions for market?
The people who is in head of the business.
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
Who makes the decisions in market system?
Consumers and producers
Who makes the decisions in a free-market system?
Consumers and producers
In a market economy who makes the decisions that guide most economic activity?
firms and households
Who makes the economic decisions in Australia?
who makes australia's economic decisions
What is An economic system in which the government makes all economic decisions?
it's called a command economy
