Explain the role played by consumers , business and government in a market economy
hint: focus on the factor and product markets

Good Morning!

In a market society, also known as "capitalism," the roles are very clear. Consumers have the role of effecting the consumption of products or services, thus acting as a thermometer for the market since it is from the tastes and options of the population that the market must be guided. The market, then, is the one that meets the demand and produces in order to raise customers and realize sales. The government is a manager, but should not interfere much with the functioning of the market. The government must manage and prevent unfair competition, harness currency strength and international competition.

Hugs!

The roles are quite obvious in a market system, sometimes known as "capitalism." Consumers have the ability to influence service or product consumption, functioning as a market thermometer because the market must be guided by the population's tastes and preferences.

As a result, the market is the one that satisfies demand and creates in order to increase clients and sales.The government is a manager, but it should stay out of the way of the market's operation.The government must control and prevent unfair competition, as well as capitalize on currency strength and global rivalry.

For more information regarding roles in the market economy, refer to the link:

link

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