Question

Which statement best describes a pure market economy?

Answer 1

The decisions made by producers and consumers drive all economic choices best describes pure market economy.

Answer 2

Answer:

Producer intervention in economic choices is strictly forbidden. This statement  best describes a pure market economy.

Explanation:

• Producer interference in economic decisions is strictly prohibited.

A system for making economic decisions concerning production and pricing. by producers and customers, with limited government involvement.

A market economy allows for choice and free entrepreneurship. Private entrepreneurs are free to obtain and employ resources for the production of goods and services. They are free to sell these goods and services in whatever markets they want.

A pure market economy allows producers and consumers to make their own economic decisions without being steered or dictated by a central controlling mechanism. Ideally, this freedom allows buyers and sellers to make sensible economic decisions, and product and service prices can be determined by supply and demand.

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