Question

Two significant parts of a market economy are _____ and _____.

1) products and people
2) products and supply
3) people and supply
4) supply and demand

Answer 1

Supply and demand are the two significant parts of a market economy.

Step-by-step explanation:

Two significant parts of a market economy are supply and demand. Supply refers to the total amount of goods and services offered for sale at various prices, while demand represents the total amount of goods and services consumers are willing to buy at various prices. These two concepts interact to determine the equilibrium price, where the quantity supplied matches the quantity demanded in the market.