Producers and consumers own the factors of production

Producers and consumers answers the question of who, what and how to produce

Voluntary trade and exchange are encouraged

What type of economic system is being described?

A) Command

B) Market

C) Mixed

D) Socialism

Question

Fatima Wu

27 November, 02:13

+3

Answers (2)

Know the Answer?

Blanche · Answer 1

Market because they are exchanging

.

Tatiana Johnston · Answer 2

Market, like the person before me said! Hope you do well!

Producers and consumers own the factors of productionProducers and consumers answers the question of who, what and how to produceVoluntary trade and exchange are encouragedWhat type of economic system is being described?A) CommandB) MarketC) MixedD) Socialism