A market economy is a system where the laws of supply and demand direct the production of goods and services. 1 Supply includes natural resources, capital, and labor. Demand includes purchases by consumers, businesses, and the government. … Market economies evolve from traditional economies.
Newton D
A market economy is a system where the laws of supply and demand direct the production of goods and services. 1 Supply includes natural resources, capital, and labor. Demand includes purchases by consumers, businesses, and the government. … Market economies evolve from traditional economies.
Abhinav.arjun47
an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.