In modern economies,individuals in markets make most of the decisions about

Question

Quizplus · Accepted Answer

In modern economies, individuals in markets make most of the decisions about what to produce, how to produce it, and for whom to produce it. This is because market economies are based on the principle of supply and demand, where producers are incentivized to produce what consumers want and are willing to pay for. Therefore, decisions about what to produce are based on what consumers demand, decisions about how to produce are based on what is most efficient and cost-effective, and decisions about for whom to produce are based on who is willing and able to pay for the goods and services.

In Modern Economies,individuals in Markets Make Most of the Decisions