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23 January, 09:42

In which type of economy would consumers have the most choices of products to buy?

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Answers (2)
  1. 23 January, 09:47
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    I would think it is a market economy.
  2. 23 January, 09:54
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    Consumers would have the most choices of products to buy in a capitalist market economy.

    Explanation:

    Market economy is a socio-economic coordination form in which the market and free competition determine the prices and distribution of scarce resources and goods by means of market forces such as supply and demand. The private sector is the owner of the companies, which compete to deliver the goods and services consumers want (demand). The authorities rarely intervene directly to influence market developments in a particular direction. Market economics is often associated with liberalist or capitalist states.

    Market economics is the "opposite" of planning economics. However, none of these forms of organization exist in pure form in any society. The state will normally try to regulate the largest effects of cyclical fluctuations in legislation and taxes to keep the economy stable and predictable in the long term.
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