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 traditional economy
a traditional economy
a command economy
a command economy
a mixed economy
a mixed economy
a market economy
Responses
a traditional economy
a traditional economy
a command economy
a command economy
a mixed economy
a mixed economy
a market economy
Answers
GPT-4o mini
The correct response is:
**a market economy**
In a market economy, price signals determined by supply and demand forces are the primary factors guiding the production of goods and services.
**a market economy**
In a market economy, price signals determined by supply and demand forces are the primary factors guiding the production of goods and services.