Who is in charge of market economy?

Answer 1

In a market economy, the allocation of resources and the determination of prices are primarily driven by the forces of supply and demand, rather than a central authority. Businesses and consumers make decisions based on their preferences and needs, with competition influencing production and innovation. While the government may regulate certain aspects to ensure fair practices and address market failures, it does not directly control the market. Thus, the market economy is largely self-regulating through the interactions of individuals and firms.