Discuss the features of Market system.
Answers
Answer:
Brief explanations are given for these characteristics of the market system: private property, freedom of enterprise and choice, the role of self-interest, competition, markets and prices, the reliance on technology and capital goods, specialization, use of money, and the active, but limited role of government.
Answer:
We have given several definitions of a market the following are the salient features of market economy system:
1. One Area The market does not mean that the buyers and sellers of a commodity are physically present but the market is one area or region in which buyers ...
3. One Commodity For the existence of a market, they should be at least. One commodity like cloth, wheat, vegetables, sugar, etc. ...
5. One Price
Explanation: HOPE THIS HELP YOU MARK ME AS BRAINLIST