Production is determined by the interaction of supply and demand,and signalled to producers through the price system,in what kind of economy?
A)mixed economy
B)command economy
C)market economy
D)trade economy

Question

Quizplus · Accepted Answer

In a market economy, production is determined by the interaction of supply and demand, and prices signal to producers what goods and services are in demand. This is the opposite of a command economy, in which production is directed by a central authority, and a mixed economy, which combines elements of both market and command economies. "Trade economy" is not a commonly used term in economics.

Production Is Determined by the Interaction of Supply and Demand,and