Two important types of economies in the world today are the market economy and the command economy . What is a market economy?(1 point) Responses sectors, like luxury goods production, are managed by the market, while most of the economy remains centrally planned. sectors, like luxury goods production, are managed by the market, while most of the economy remains centrally planned. economy in which the central government makes all basic economic decisions economy in which the central government makes all basic economic decisions one in which there is little or no government intervention; almost all of the economy is determined by what the market does one in which there is little or no government intervention; almost all of the economy is determined by what the market does None of the above

Answer 1

A market economy is one in which there is little or no government intervention; almost all of the economy is determined by what the market does.