In a market-based economic system, economic decisions about prices are controlled by ____.

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In a market-based economic system, prices are mainly determined by the interaction of supply and demand. The sellers set their prices based on what the buyers are willing and able to pay, and the buyers choose the products and services that offer them the best value for their money. This means that prices change in response to changes in supply and demand, and there is a natural tendency for prices to adjust to a level that brings supply and demand into balance. The government can have some influence on prices through policies and regulations, but ultimately it is the market forces of supply and demand that control prices in a market-based economy.

In a Market-Based Economic System, Economic Decisions About Prices Are