tjp580680 tjp580680

18-06-2024
Social Studies

Answered

Which two of the following are correct with regards to a free-market economy? (Select all that apply)

A. Another name for capitalism
B. An economic system in which laws largely determine what products get produced, who gets them, and how the economy grows.
C. An economic system in which economic decisions are made by the market
D. An economic system in which the government largely determines what is produced, who gets the output, and how the economy grows.

Answer :

GinnyAnswer GinnyAnswer

18-06-2024

Final answer:

Capitalism is synonymous with a free market system, where economic decisions are based on self-interest and economic freedom.

Explanation:

Capitalism is another term for a free market system or free enterprise system. In this economic system, individuals own the factors of production and make decisions based on their self-interest. An important feature of capitalism is economic freedom, where individuals and firms operate in markets to make choices about production and consumption.

Learn more about Capitalism and Economic Freedom here:

https://brainly.com/question/40297042

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