Question
In which economic system are price signals, resulting from supply and demand forces, the only determining factor for the goods and services that the economy produces?(1 point)
Responses
a command economy
a command economy
a traditional economy
a traditional economy
a mixed economy
a mixed economy
a market economy
a market economy
Responses
a command economy
a command economy
a traditional economy
a traditional economy
a mixed economy
a mixed economy
a market economy
a market economy
Answers
GPT-4o mini
The correct response is:
**a market economy**
In a market economy, price signals resulting from supply and demand forces are the primary determinants of the goods and services that are produced.
**a market economy**
In a market economy, price signals resulting from supply and demand forces are the primary determinants of the goods and services that are produced.
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