Market Economy
What is a Market Economy?
An economic system where people and businesses make most economic decisions instead of the government.
What is a demand?
A demand is the number of consumers who want it.
True or False: Government makes most economic decisions in a market economy.
False
True or False: An opportunity cost is when something motivates you to do something
False.
True or False: A market economy is only for selling stuff.
False
What is the definition of Incentive?
The thing that motivates you to do something.
Who controls the market economy?
The people and the businesses.
How many economic decisions can the person or business have?
As much as they want.