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How do consumers have the power in a market economy?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
Which type of government goes well with a market economy?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
What is a consumer?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
Which is not one of the economic questions?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
What does laissez faire mean?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
How does competition work in a market economy?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
In a pure laissez faire (market) economy the government
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
How does supply and demand work?
Producers have to compete with each other for consumer's money
let the people decide
producers will supply what consumers demand
democracy
what consumers buy is produced
doesn't make any of the decisions.
someone who buys goods/service
Who will make the goods?
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