Question

6. In a market-oriented economy, what primarily determines what goods and services are produced?

a) Government regulations
b) Consumer preferences and demand
c) Producer preferences and supply
d) Random chance

Answer 1

Consumer preferences and demand primarily determine what goods and services are produced in a market-oriented economy.

Step-by-step explanation:

In a market-oriented economy, what primarily determines what goods and services are produced is b) Consumer preferences and demand. This means that the wants and needs of consumers drive the production of goods and services. Producers respond to consumer demand and adjust their production accordingly.

Learn more about Consumer preferences and demand in a market-oriented economy