ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The government
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Consumers
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Businesses/Producers
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None of the above
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Detailed explanation-1: -A true free market economy is an economy in which all resources are owned by individuals. The decisions about the allocation of those resources are made by individuals without government intervention.
Detailed explanation-2: -Pillars of capitalism In free markets, also called laissez-faire economies, markets operate with little or no regulation.
Detailed explanation-3: -In a free market economy, resources are allocated through the interaction of free and self-directed market forces. This means that what to produce is determined consumers, how to produce is determined by producers, and who gets the products depends upon the purchasing power of consumers.
Detailed explanation-4: -What has the most influence in a free market economic system? The Consumer. Who provides services in a command economy? All production is centrally owned, controlled by the government.