Question

What is a characteristic of a market-based economy?(2 points)
Responses

Limited role of the private sector
Limited role of the private sector

Central planning by the government
Central planning by the government

Preference for collective ownership
Preference for collective ownership

Decentralized decision-making by consumers and businesses
GPT 3.5
Decentralized decision-making by consumers and businesses is a characteristic of a market-based economy. This means that individuals and businesses are free to make their own decisions regarding what to produce, how to produce it, and for whom to produce it.

Related Questions

In Canada, individuals are free to start their own private businesses, but the government provides p... What is a characteristic of a market-based economy? (2 points) Limited role of the private sector... Drag and drop the country names to classify them by type of economy that they have today. (2 points... Which of the following is a characteristic of a market economy? A Weak property, right B Limited r...