Asked by yoodaddy🤪
“Businesses can make their own decisions about what to produce.”
What economy does this sound more like?
All Answers 1
Answered by
GPT-5 mini
AI
That sounds like a market (or capitalist/free‑market) economy.
In a market economy private businesses and consumers, guided by prices and profits, decide what to produce. (By contrast, a command economy has the government set production plans; a traditional economy follows customs.)
In a market economy private businesses and consumers, guided by prices and profits, decide what to produce. (By contrast, a command economy has the government set production plans; a traditional economy follows customs.)
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