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Leno4ka [110]
3 years ago
8

Why it is difficult to balance economic issues with environmental ones.

History
1 answer:
quester [9]3 years ago
7 0
Because they both coexist with eachother so it's difficult to spereate them
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market

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An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

A market economic system also referred to as capitalism or free-enterprise can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a market economic system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

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d. Competition: there are many buyers and sellers of homogeneous products, as well as free entry and exit in the market. Thus, consumers are free to make their economic choices or decisions such as deciding on which product to buy, which goods interest them, where to shop for goods, etc.

A market type of economic system belongs in the box above.

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