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In which type of economy do the forces of supply and demand typically drive prices?

a. a market economy b. a traditional economy c. a planned economy...

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In which type of economy do the forces of supply and demand typically drive prices?

a. a market economy
b. a traditional economy
c. a planned economy
d. a command economy

Answer

The kind of economy that is determined by supply and demand is a market economy - answer a) is the correct one In a command and planned economies the government decides over prizes and production (the two are roughly synonymous).
A traditional economy is an economy based on exchange, not money.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 31 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 181 views.

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