ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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command economy
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market economy
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mixed economy
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fascist economy
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Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.
Detailed explanation-2: -The best example of a global market economy is the US. The US has a free market where buyers and sellers fully control the production and pricing. As a result, the supply and demand of a product determine the companies’ investment and manufacturing decisions.
Detailed explanation-3: -A market economy is a type of economic system where supply and demand regulate the economy, rather than government intervention. A true free market economy is an economy in which all resources are owned by individuals.
Detailed explanation-4: -People and firms act in their own best interest to answer economic questions. Markets allow buyers and sellers go come together in order to exchange goods and services. Markets can adjust over time. Freedom exists for everyone involved.