Question

1. Describe the type of economic system characterized in each of the following sentences.
1. Prices are based on demand and supply
2. The government decides on what goods should be produced
3. Ancient methods are used i deciding ahat gooods to produce
4. People enjoy freedom of choice in arriving at decisions on what to buy.
5. People have no freedom of cholee in arriving at decisions on what to buy
6. Economy is senant, making use of practices in the olden times.
7. Economy is backward because no new technology or production methods are introduced
8. Is is the most democratie form of economie system
9. People's preferences are reflected in the prices they are willing to pay in the market
10. It exist in primitive and backward chilizations.
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Answer 1

Answer:

8 is more important tip for the democratic us well!@#