Question

if the distribution of income in the society is
highly unequal, then greater amount of luxury goods will be produced in which economy.?

Answer 1

Explanation:

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Answer 2

In a free market economy, the distribution of profits withinside the society is highly unequal,  extra quantity of inferior luxurious goods might be produced.

Explanation:

• A free market economy is one in which voluntary trade and the legal guidelines of deliver and call for offer the only foundation for the monetary system, with out authorities intervention.

• A key characteristic of free market economy is the absence of coerced (forced) transactions or situations on transactions.

• While no natural free market economy really exist, and all markets are in a few methods constrained, economists who degree the diploma of freedom in markets have observed a normally tremendous courting among free markets and measures of monetary nicely being.