Question

In a free-market economy the allocation of resources is determined by​

Answer 1

Answer:

In its purest form, a free market economy is when the allocation of resources is determined by supply and demand, without any government intervention. ... Supply and demand create competition, which helps ensure that the best goods or services are provided to consumers at a lower price.

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Answer 2

A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods. A socialist economic system is characterised by greater government intervention to re-allocate resources in a more egalitarian way. There are also different aims of the economic systems.