Answer to Question #225553 in Economics of Enterprise for Max

Question #225553

Explain how resources are allocated in a market system


1
Expert's answer
2021-08-12T17:43:56-0400

In a market economic system resources are allocated according to the interaction of free forces of market.

Therefore this means that the products to be produced are determined by the consumers, how to produce is determined by the producers and the people who will get the products depends on the purchasing power of consumers.



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