Consumer demand dictates the types of businesses that exist and how much of a given product or service is available in a:
A)monopolistic economy
B)oligopolistic economy
C)free market economy
D)product economy

Question

Quizplus · Accepted Answer

Consumer demand is a key factor in a free market economy, where businesses operate with minimal interference from government regulations. In this type of economy, businesses respond to consumer demand by offering products and services that are in high demand, which in turn determines the prices and availability of those goods and services. In a monopolistic or oligopolistic economy, there are fewer businesses controlling the market, and they may not be as responsive to consumer demand. A product economy is not a recognized economic system.

Consumer Demand Dictates the Types of Businesses That Exist and How