____ economies are recognizable by their tendency to allow market forces to determine business strategies and to have private ownership of property.
A) Communist
B) Market
C) Industrializing
D) Pure competition
E) Socialist

Question

Quizplus · Accepted Answer

Market economies allow market forces like supply and demand to determine business strategies and have private ownership of property. Communist and Socialist economies rely on government-owned property, while Industrializing economies are undergoing development and may not have a fully established market system. Pure competition is a concept within a market economy but is not a type of economy itself.

____ Economies Are Recognizable by Their Tendency to Allow Market