In the economy of nation a, natural laws of economics such as supply and demand completely control the economy with no interference from government. this is an example of a?

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19-08-2022
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In the economy of nation a, natural laws of economics such as supply and demand completely control the economy with no interference from government. this is an example of a?

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Tundexi Tundexi · Answer 1 · 2022-08-23T16:49:28+02:00

A market economy is illustrated in the economy of nation A where the natural laws of economics such as supply and demand completely control the economy with no interference from government.

What is a market economy?

This refers to an economic system where two forces, known as supply and demand, direct the production of goods and services

In other word, the market economy is one where the activity in unplanned and not organized by any central authority but is instead determined by the supply and demand of goods and services.

The economy of United States, England and Japan are all examples of market economies.

Therefore, the market economy is illustrated in the economy of nation A where the natural laws of economics such as supply and demand completely control the economy with no interference from government.