market system flashcards

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The regulatory mechanism of the market system is competition
what does market competition means It means that there are independently-acting buyers and sellers in each market
what does market competition depend on It depends on independently acting buyers and sellers and freedom to enter or leave markets
what does Competitive market system encourage It encourages innovation because government provides tax breaks and subsidies to those who develop new products or new productive techniques
In a market economy the distribution of income will be determined primarily by the quantities and prices of the resources that households supply

The regulatory mechanism of the market system is

what does market competition means

what does market competition depend on

what does Competitive market system encourage

In a market economy the distribution of income will be determined primarily by

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