An economic structure in which judgements about what to manufacture and in what amounts are determined by the markets consumers

Question

Delicious77 [7]

1 year ago

12

An economic structure in which judgements about what to manufacture and in what amounts are determined by the markets consumers

and retailers is known as _________.

Business

1 answer:

astra-53 [7] · Answer 1 · 2024-06-07T22:22:32+03:00

An economic structure in which judgments about what to manufacture and in what amounts are determined by the markets consumers and retailers is known as a free-market system

This is further explained below.

<h3>What is the free-market system?</h3>

Generally, A market economy is an economy in which choices about investment, production, and distribution to consumers are led by the price signals that are formed by the forces of supply and demand. This kind of economic system is known as a free market economy.

In conclusion, A free market system is an economic framework in which decisions on what to make and in what quantities are set by the customers and retailers in the market.

This kind of system is also known as a consumer-driven economy.