The ___________ (or capitalist) model places economic decisions in the hands of the people and the law of supply and demand dict

Question

mario62 [17]

2 years ago

9

The ___________ (or capitalist) model places economic decisions in the hands of the people and the law of supply and demand dict

ate what goods/services are produced/provided, at what price, etc.
Command

Market

Social Studies

1 answer:

Allushta [10] · Answer 1 · 2022-08-10T02:00:28+03:00

The answer is: Market

In the market model, each indviduals have the chance to predict the type of product that the majority of people need / desire. (which they commonly called as 'market demand').

After knowing the market demand, individuals who want to obtain an economic profit need to develop the products in order to answer the market demand. (products that given to the consumers by the sellers is what usually called as market supply)