2007-01-25 14:03:59 · 4 answers · asked by punjabi_jattss 1 in Education & Reference ➔ Higher Education (University +)
its a free enterprise economy in which the government has no control over economic dealings and businesses and consumers decide entirely what products and services are to be produced. For expample the United States has a mixed economy because consumers and businesses mostly make business related disicions, but the government generates laws that limit businesses in some ways, like for example, the exploitation of people and minimum wages.
2007-01-25 14:20:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
An economy where the market determines the price. For instance, supply and demand-based economies.
2007-01-25 14:20:00 · answer #2 · answered by T J 6 · 1⤊ 0⤋
An economy where the marketplace determines the cost, which is different than a state run economy (Communism) which the state dictates the price.
2007-01-25 14:28:15 · answer #3 · answered by in waiting 3 · 0⤊ 0⤋
A market economy is one that is based on free enterprise, minimal government intervention or regulation and a free flowing pricing and labor structure based on supply and demand.
2007-01-25 14:27:57 · answer #4 · answered by Raul R 1 · 0⤊ 0⤋