Social Studies, 29.01.2020 13:00 saggirl1209

What kind of economy uses a free-enterprise system? a. closed economy b. command economy c. market economy d. traditional economy

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Answer from: kaylah71

Its is C; a market economy

Answer from: brainewashed11123

Its is C; a market economy

Answer from: xxheartbreakerxx11

The third answer is correct (C).

A market economy is characterized by the free entry and exit of competing firms and the free mobility of factors of production. This model aggregates a large number of companies and is governed by free competition and the Law of Supply and Demand.

The Law of Supply and Demand determines the price of products. If demand is high, price and output increase. If demand decreases, price decreases and quantity produced as well, because producers lose the incentive to produce.

In this way, the companies are not able to determine the prices, being determinant for its permanence the efficiency in the mode of production. Companies with high production costs succumb to competition and are eliminated from the market.

Answer from: sandovalito

The third answer is correct (C).

Answer from: Quest

buying socks and buying shoes are independent events.

Answer from: Quest

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What kind of economy uses a free-enterprise system? a. closed economy b. command economy c. market...