A market economy rewards people according to their

Question

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In a market economy, individuals are rewarded based on their ability to produce goods or services that others are willing to pay for. This means that those who have a greater ability to create value for others will be rewarded with higher incomes and profits. Need and cultural importance are not the primary factors in determining compensation in a market economy. While willingness to work is important for individuals to be able to participate in the economy, it is not necessarily the sole factor in determining compensation.

A Market Economy Rewards People According to Their