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- Facts about market economy for kids:
- Factors of production are privately owned.
- Production occurs from an initiative of the owners.
- Revenue is obtained through services or profits of private companies.
- No planned economy or regulatory economics.
- Market participants are free to choose products, professions, and how to save or invest money123.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.In a market economy, the following will be true:
- The Factors of production are privately owned. Production occurs from an initiative of the owners.
- The only way to get revenue is through services, or through the profits of private companies.
kids.kiddle.co/Market_economyA market economy is an economic system where two forces, known as supply and demand, direct the production of goods and services. Market economies are not controlled by a central authority (like a government) and are instead based on voluntary exchange. Market economies rely on the interplay between supply and demand to function.www.nationalgeographic.org/encyclopedia/market-…Market - A market economy (sometimes called a "free market") is one based on supply and demand. Consumers are free to buy whatever product they want. Companies can make whatever product they want. There is little government intervention allowing the economy to sort itself out through competition.kids.kiddle.co/Economy - People also ask
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