In the country of Xandia, the economic landscape is characterized by a system in which the government has minimal involvement in economic affairs. The decisions about what to produce, how to produce, and for whom to produce are primarily shaped by the interactions of buyers and sellers in the open marketplace. In this economic scenario, what term best describes the prevailing economic structure in Xandia?
The prevailing economic structure in Xandia can be described as a market economy or a free-market economy.
Mixed Economy
Command Economy
Market Economy