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A market economy is an economy in which decisions regarding investment, production and distribution are based on market determined supply and demand. Prices of goods and services are determined in a free priced system
Wiki User
∙ 7y ago
Wiki User
∙ 7y agoA market economy is based on the general idea that private companies should be the source of most of any nations commercial production. Regulations by a government are always necessary, however, a market economy is not one where a nations' government makes major economic decisions or owns major sectors of an economy.
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What type of economy is the Indian economy?
A market based (capitalist) economy.
Why is it important to diversify your economy?
An economy based on only one market is an invitation to disaster. If that market fails, the entire economy fails. With diversification, an economy can survive a failed market.
What is a trade-based economy called?
An economy based on trade is generally termed a market economy by those who study these things.
A market economy is based on?
Supply and demand
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
What is canadas economy based on?
A free market economy
What is the Economy of Indonesia?
market based economy
Does Nigeria have a market economy?
is nigeria a market economy, or a custom based economy, or directed.
What type of economy is the Indian economy?
A market based (capitalist) economy.
What is Kenya's developing economy based on?
Kenya's developing economy is based on agriculture and tourism.
Capitalism based on what?
A Market Economy
What type of economy do estonia have?
Estonia has a market based economy.
What type of economy does Rwanda have?
they have a free market based economy
Why is it important to diversify your economy?
An economy based on only one market is an invitation to disaster. If that market fails, the entire economy fails. With diversification, an economy can survive a failed market.
What type of economy Singapore currently have?
Singapore is a market based economy.
What is a trade-based economy called?
An economy based on trade is generally termed a market economy by those who study these things.
A market economy is based on?
Supply and demand
