SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a free enterprise economic system, the decisions about what to produce are made in response to-
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voting patterns
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consumer demand
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government quotas
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university graduation rates
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Explanation:
Detailed explanation-1: -A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand.
Detailed explanation-2: -Traditional Economy: A system which families, clans, or tribes make economic decisions based on customs and beliefs that have been handed down from generation to generation.
There is 1 question to complete.