To be succinct, the market mechanism allocates an efficient price vector solution to the distribution of a commodity conditional of the assumptions that that consumers and firms exist and that they have the freedom to buy as they please.
consumers and producers
They make the economic decisions.
Free-Market system
The Market or if you want a "who", consumers and producers.
C. They make the economic decisions
consumers and producers
Consumers and Producers.
consumers can make their desires known through their economic dealings with producers
They make the economic decisions.
Free-Market system
The Market or if you want a "who", consumers and producers.
C. They make the economic decisions
C. They make the economic decisions
Producers and consumers are interdependent in the economy; producers create goods and services that meet the needs and desires of consumers, while consumers provide the demand that incentivizes producers to supply those goods and services. This relationship drives economic activity, as producers rely on consumers for revenue to sustain and grow their businesses. Conversely, consumers depend on producers to provide the variety and quality of products they seek. Together, they create a cycle that fuels economic growth and innovation.
C. They make the economic decisions
C. They make the economic decisions
C. They make the economic decisions