A __________ is a system in which products are traded in impersonal exchanges between buyers and sellers using an all-purpose currency.

Question

Quizplus · Accepted Answer

A market economy is a system in which goods and services are exchanged through markets in which prices are determined by supply and demand. This type of economy uses an all-purpose currency, rather than bartering goods or services directly.

A __________ Is a System in Which Products Are Traded