How are the basic economic questions decided in a market economy? A They are decided based on custom and habit. B They are decid

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2 years ago

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How are the basic economic questions decided in a market economy? A They are decided based on custom and habit. B They are decid

ed based on the needs of the public. C They are decided based on government priorities. D They are decided based on consumer preferences.

Social Studies

1 answer:

scoray [572] · Answer 1 · 2022-10-22T21:59:33+03:00

Answer: B. They are decided based on the needs of the public

Explanation:

In market economy the public makes the decision based on trade and exchange. This choices determines what is produced and who consumes the products and services. Market economy are also called free market or capitalism