One advantage of a market economy is its ability to
A)limit consumer choices
B)control the price of labor
C)sell goods at a high price
D)adjust to change over time***
I'm not sure exactly what the answer is, but is that right?
I have no idea what the answer is. someone help
The answer is D :)
how yall not know i got 55 questions o this quiz and noone knowes
That's correct! Nice job :3
Yes. As the market changes, demand fluctuates, etc., a market economy can adapt more easily or quickly than one controlled by the state or an oligarchy, etc.
i dont now the answer
So what is the answer
What’s the amswer
The correct answer is D) adjust to change over time. A market economy is a type of economic system where decisions regarding production, investment, and distribution are based on the interplay of supply and demand in the market. In this system, individuals and businesses are free to make their own economic choices, including what to produce, how much to produce, and at what prices to buy and sell goods and services.
In a market economy, prices are determined by supply and demand, which fluctuate based on factors such as consumer preferences, production costs, and competition. This flexibility allows the market economy to adjust to changes in these factors over time. For example, if there is an increase in demand for a particular product, the price of that product may rise, signaling to producers that there is an opportunity to profit. As a result, suppliers may increase production to meet the demand, which helps to balance the market and accommodate the changing needs of consumers.
To arrive at this answer on your own, it is important to understand the characteristics of a market economy. By considering the features of a market economy, such as the free exchange of goods and services, competition, and the role of supply and demand, you can determine that the ability to adjust to change over time is indeed one of the advantages of a market economy.