A key feature of market economies is that the market economy:

a. have government planners to allocate all economic resources.

b. allocate resources by everyone acting in their own self-interest.

c. are based solely on consumer spending.

d. always elect their government officials

Question

Business

Johan Pratt

28 March, 16:56

A key feature of market economies is that the market economy:

a. have government planners to allocate all economic resources.

b. allocate resources by everyone acting in their own self-interest.

c. are based solely on consumer spending.

d. always elect their government officials

+1

Answers (1)

Know the Answer?

Kiersten Collins · Answer 1

The answer is b. allocate resources by everyone acting in their own self-interest.

Explanation:

A market economy is a system where the laws of supply and demand direct the production of goods and services. One of the key characteristics of a free market economy is that all resources are privately owned.

A key feature of market economies is that the market economy:a. have government planners to allocate all economic resources.b. allocate resources by everyone acting in their own self-interest.c. are based solely on consumer spending.d. always elect their government officials

A key feature of market economies is that the market economy:

a. have government planners to allocate all economic resources.

b. allocate resources by everyone acting in their own self-interest.

c. are based solely on consumer spending.

d. always elect their government officials