Ask Question
17 September, 09:20

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.

+1
Answers (1)
  1. 17 September, 11:59
    0
    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.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “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 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers