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4 May, 11:27

In a market economy, a. households decide which firms to work for and what to buy with their incomes. b. firms decide whom to hire and what to make. c. a central planner makes decisions about production and consumption. d. Both a and b are correct.

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  1. 4 May, 11:35
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    d. Both a and b are correct.

    Explanation:

    Under a market economy the agents are free in both ways, they can arrenge their decision in open negociation with their supplier/employeer and can choose between the goods produced in the economy which ones to consume or not.

    While in a communist economy it is a central planner who decide the output and payment for the families job.
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Home » Business » In a market economy, a. households decide which firms to work for and what to buy with their incomes. b. firms decide whom to hire and what to make. c. a central planner makes decisions about production and consumption. d. Both a and b are correct.
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