Characteristics of what type of economic system are being described below? 1. basic economic questions answered by forces of the
marketplace; 2. consumer demand determines what is produced; 3. competition determines the distribution of goods; Command Economies Market Economies Traditional Economies
Market economy is understood as the organization and allocation of the production and consumption of goods and services arising from the interplay between supply and demand. The characteristic that defines the importance of the market economy is that decisions about investment and the allocation of production goods are made mainly through markets.
