Question

Daveed is the warehouse supply manager for a privately owned auto parts distributor. It is his job to take inventory of the products the company has available and place orders for parts when supplies run low. This supply and demand form of production is an example of a __________ economy.

Answer 1

This form of production that operates on supply and demand is the market economy.

Facts about the market economy

• Is controlled by forces of supply and demand.
• Citizens are allowed to own the means of production.

The warehouse Daveed works in is privately owned and they seek supply based on the demand for their goods.

This is in conclusion, a market economy.

Find out more on the market economy at brainly.com/question/1659498.