Ask Question
24 September, 03:08

In a market economy, a. households decide which firms to work for and what to buy with their incomes. b. firms decide whom to hire and what to make. c. a central planner makes decisions about production and consumption. d. Both a and b are correct.

+5
Answers (1)
  1. 24 September, 05:41
    0
    d. Both a and b are correct.

    Explanation:

    Under a market economy the agents are free in both ways, they can arrenge their decision in open negociation with their supplier/employeer and can choose between the goods produced in the economy which ones to consume or not.

    While in a communist economy it is a central planner who decide the output and payment for the families job.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In a market economy, a. households decide which firms to work for and what to buy with their incomes. b. firms decide whom to hire and what ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers