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Natalija [7]
4 years ago
6

What describes an economy in which the interaction of supply and demand determines price and output in there should be no govern

ment regulation of the economy
Social Studies
2 answers:
g100num [7]4 years ago
8 0

Answer:

The economy is a Free Market Economy.

Explanation:

In a free market economy <em>the forces of Demand and Supply</em> determines the <em>price and output of gods and services. </em>The increase in price of goods and services begets the increase in the quantities demanded and supplied and vice versa. The government is decentralised and has no control over the prices of goods and services. there are no existence of<em> Central Market Boards.</em>

abruzzese [7]4 years ago
5 0

Answer:

free enterprise economy

Explanation:

A free enterprise system refers to an economic system in the capitalist economy whereby price for goods and services are determined by the natural forces of demand and supply and there is no interference from government as to set price control measures. The free enterprise system is supported by the father of economics, Adam Smith as he notes this is a sure way of attaining an efficient market

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