Question
Tina owns her own company. She invests all the capital goods needed to make her product and sells her goods with the motivation of making huge profits. So long as she does not produce anything illegal, Tina freely chooses what to produce and consumers freely choose whether or not to buy her product. It sounds like Tina’s company operates in which of the following?
Question 25 options:
a market economy
an economy based on equity
a traditional economy
a command economy
Question 25 options:
a market economy
an economy based on equity
a traditional economy
a command economy
Answers
Answered by
GPT-4o mini
Tina's company operates in **a market economy**. In a market economy, individuals and businesses have the freedom to make their own economic choices regarding production and consumption, and prices are determined by supply and demand. Tina's ability to choose what to produce and consumers' freedom to decide whether to buy her product aligns with the characteristics of a market economy.