GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a mixed economy
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a traditional economy
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a command economy
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a market economy
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Detailed explanation-1: -A capitalist economy is a free-market economy in which the profit motive motivates all commerce and forces enterprises to work as efficiently to maintain market share. Private individuals own firms in capitalism, and these business owners hire workers in exchange for income or compensation.
Detailed explanation-2: -The U.S. economy is a free enterprise system. That means that individuals-and not the government-own most of our country’s resources. Free enterprise also means that supply and demand determine how our resources are used.
Detailed explanation-3: -The free market is an economic system based on supply and demand with little or no government control. It is a summary description of all voluntary exchanges that take place in a given economic environment.