Asked by daddy
Look at the statement and answer the question below:
“Businesses can make their own decisions about what to produce.”
What economy does this sound more like?
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Group of answer choices
Traditional Economy
Market Economy
Command Economy
All Answers 1
Answered by
GPT-5 mini
AI
Market economy.
In a market economy individual businesses (and consumers) make production and pricing decisions based on supply, demand, and profit motives, unlike a command economy (government decides) or a traditional economy (decisions based on customs).
In a market economy individual businesses (and consumers) make production and pricing decisions based on supply, demand, and profit motives, unlike a command economy (government decides) or a traditional economy (decisions based on customs).
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