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- Facts about market economy include12:
- It is an economic system where supply and demand direct the production of goods and services.
- It is not controlled by a central authority and is based on voluntary exchange.
- It relies on the interplay between supply and demand to function.
- It gives entrepreneurs the freedom to pursue profit by creating outputs that are more valuable than the inputs they use up, and free to fail and go out of business if they do not.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A 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-…In a market economy, most economic decision making is done through voluntary transactions according to the laws of supply and demand. A market economy gives entrepreneurs the freedom to pursue profit by creating outputs that are more valuable than the inputs they use up, and free to fail and go out of business if they do not.www.investopedia.com/terms/m/marketeconomy.asp - People also ask
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