Question

In a market economy, how are the basic economic questions of what, how and for whom to produce answer?

Question 9 options:

by using a nation's social customs and traditions


by the nation's federal and/or local governments


by the individuals and businesses in the nation's marketplace


by using a combination of traditional an command economies

Answer 1

In a market economy, the basic economic questions of what, how, and for whom to produce are answered:

**by the individuals and businesses in the nation's marketplace.**

This is because a market economy relies on the decisions made by consumers and producers based on supply and demand, rather than by governmental planning or traditional practices.