Question

In a ________________economy individuals answer the three basic questions and the central authority or leaders have little say in the economy.

Answer 1

Market economy

Step-by-step explanation:

• The Market economy is the economic system in which the decision regards the investment, production, and consumption is guided by the price and thereby creating a demand and supply situation.

• Also referred to as the factor of the production and regulate a free and an open market economy and theses reconstruct the planned economies as they are bordered by the pringle allocation of the product by the markets rather than the firms.

• Hence a market economy is one where the central authority has little control over there stay in the economy. Another form associated with this is the social capitalism and mercantilism.