In a market economy:

Name: In a market economy:
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In a market economy, all of the above choices are true. Firms are free to decide whom to hire and what to produce based on their self-interest and profitability. Households, in turn, have the freedom to choose which firms to work for and how to allocate their income by making consumption decisions in their best interest. The market economy relies on the interaction between firms and households to determine prices, quantities and allocation of resources.

In a Market Economy