What is it called when competition is used instead of regulations? It's market .......?

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What is it called when competition is used instead of regulations? It's market .......?

2007-03-12 22:37:37 · 3 answers · asked by katie d 2 in Business & Finance ➔ Other - Business & Finance

3 answers

A market system or market economy (capitalism), as opposed to a command system or economy (Communism).

2007-03-12 22:43:05 · answer #1 · answered by i wonder... 2 · 0⤊ 0⤋

Supply and demand. When the supply is high or demand is low there is plenty of competition which causes prices to decrease. When demand is high or supply is low, the prices will rise.

2007-03-13 05:50:13 · answer #2 · answered by PEGGY S 7 · 0⤊ 0⤋

market forces.

2007-03-13 05:42:08 · answer #3 · answered by esmerelda v 5 · 1⤊ 0⤋