In a free market system, decisions about what and how much is produced are made by:

A. leading economists
B. consumers
C. the market consisting of buyers and sellers
D. the government in collaboration with producers

Question

18-06-2024
Social Studies

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In a free market system, decisions about what and how much is produced are made by:

A. leading economists
B. consumers
C. the market consisting of buyers and sellers
D. the government in collaboration with producers

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-06-18T14:53:19-04:00

Final answer:

In a free market system, decisions about production are primarily made by the market comprising buyers and sellers, reflecting consumer choices and preferences.

Explanation:

In a free market system, decisions about what and how much is produced are made by the market consisting of buyers and sellers. In this system, consumers play a significant role in determining production based on their preferences and purchasing power. Producers adjust their outputs based on consumer demand, guiding the economy's allocation of resources.

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