In a free market, economic activity is coordinated by
A)central planners.
B)prices.
C)costs.
D)majority rule.

Question

Quizplus · Accepted Answer

In a free market, economic activity is coordinated by prices. Producers price their goods based on the cost of production and consumers decide which products to purchase based on their own preferences and willingness to pay. This system creates a dynamic market where supply and demand adjust to each other without the need for central planners or majority rule.

In a Free Market, Economic Activity Is Coordinated by