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10 January, 17:43

Which of the following economic systems leaves productions decisions completely up to the producers?

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  1. 10 January, 19:34
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    Answer: Free Market Economy

    Explanation: A Free market economy is an economic system based on supply and demand with little or no government control.

    In this economic system, the production system is in the hands of producers, they control what is produced as well as the pricing system without government intervention.

    The free market economy is characterized by uncontrolled competition and only private transactions between buyers and sellers are available in this market.
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