In a market economy,access to alternative purchase options is known as ________.

Question

Quizplus · Accepted Answer

Access to alternative purchase options gives consumers the freedom to make their own choices, which is a key aspect of a market economy. This freedom of choice allows consumers to compare prices and quality, and ultimately decide which product or service best suits their needs and budget. Therefore, free choice is the most appropriate term for this concept. Price-sensitivity refers to how responsive consumers are to changes in price, economic transition refers to the shift from one type of economic system to another, and laissez-faire is an economic concept that advocates for minimal government intervention in the market. None of these terms fully capture the idea of access to alternative purchase options in a market economy.

In a Market Economy,access to Alternative Purchase Options Is Known