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19-12-2022
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In the united states, the basic objective of the market-directed economic system has been : A. Providing everyday low prices B. Immediate delivery of product C. Offering easy financing D. Consumer satisfaction E. Making advertising memorable

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tutorconsortium275 tutorconsortium275

22-12-2022

In the United States, consumer satisfaction has been a fundamental goal of the market-oriented economy.

What is market economy system and it characteristics?

A market-oriented economy is a free-market economy in which supply and demand control the prices of goods and services. The economy is market driven without government intervention. The exchange of money for goods is voluntary and based on consumer needs. The US, UK and Japan are examples of market economies.

There are the five characteristics of a market economy: Private property, freedom, self-interest, competition and minimal government intervention are the hallmarks of a market economy.

What are basic principles of a market economy?

Basic principles of economic decision-making are: (1) People have to compromise. (2) The price of something is what you gave up to get it. (3) Rational people think peripherally. (4) People respond to incentives.

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