A capitalist economy that emphasizes competition between firms, often features good labor relations, and relies on nonmarket-driven interactions to solve coordination problems is referred to as a ______.

Question

Quizplus · Accepted Answer

Coordinated market economies rely on nonmarket relationships to coordinate endeavors between firms, labor, and other economic actors, often resulting in more collaborative labor relations and strategic cooperation in solving economic problems.

A Capitalist Economy That Emphasizes Competition Between Firms, Often Features