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Who owns the factors of productiom and makes economic decisions in a market economy?
Ayygabbs
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.
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What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
How are decisions made in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What factors and resources does the government own in a centrally planned economy?
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
Who makes decisions in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
How are decisions made in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What are similarities between market and traditional economic systems?
In a Market Economy the decisions are made by individuals whereas in a Traditional Economy, the decisions are all based on tradition, like what their ancestors had done, religion, and other similar factors. However, they both have a self interested mind-set. Hope this helped! :)
What are two economic factors that affect financial decisions?
Buzz kill
How are decisions made in a market?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What factors and resources does the government own in a centrally planned economy?
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
What is the name of an economic system in which private citizens own the factors of production?
I believe the answer is "a command economy"It is market economy
Which economic institution owns the factors of production in a market economy?
communism households
Which are the two major fields of economic study?
The two major fields of economic study are macroeconomics and microeconomics. Macroeconomics deals with the large scale economic factors while microeconomics deals wit single factors of personal decisions.
