A market economy answers the question of what goods will be produced by focusing on:

Question

Quizplus · Accepted Answer

In a market economy, consumers' dollar votes determine what goods will be produced because producers will prioritize producing goods that are in demand by consumers in order to make a profit. The other options, such as the least-cost method of production or the needs of society, may be considered in the production process, but ultimately it is consumers' willingness to pay for goods that determines what is produced.

A Market Economy Answers the Question of What Goods Will