Question : _________ is a market where economic agents can freely exchange their endowments with each other.
Option 1: Market economy
Option 2: Centrally planned economy
Option 3: Aggregate demand based economy
Option 4: Aggregate supply based economy
Answer (1)
16th Jan, 2024
Correct Answer: Market economy
Solution : A market economy is a system in which privately held companies engage in unregulated competition to set prices and determine production. Market economy is a market where economic agents can freely exchange their endowments which each other.
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