ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of these is the main principle behind a market economy?
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supply and demand
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barter and trade
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governmental control
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none of the above
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Explanation:
Detailed explanation-1: -The principle of market economy dictates that producers and sellers of goods and services will offer them at the highest possible price that consumers are willing to pay for goods or services. When the level of supply meets the level of demand, a natural economic equilibrium is achieved.
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