A pure market economy is sometimes called pure
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A pure market economy is called so because it based entirely on the allocation of the market and all the three questions of allocation has been answered by it.
Explanation:
- Economy can be of three different types. These are command, market and traditional.
- A market economy is pure. There is no interference of the government in the production process. Moreover it is dependent of the market system and not on any external factors.
- A pure market economy has the disadvantage of not having the liberty to produce adequate amount of material required for a nation.
To know more about pure market economy
In a pure market economy prices are generally determined by
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Answer:
Capitalism
Explanation:
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