Economic system seeks to answer three fundamental questions in economics, namely: What goods will be produced?How will the goods be produced?For
Free Market Economy
Market Economy: Meaning, Characteristics, Pros, and Cons
What's it: A market economy is an economic system in which market mechanisms determine economic activity. In other words, the economy is based on the
Free Market: Meaning, Characteristics, Pros and Cons
What's it: A free market is an economic system in which the forces of demand and supply drive all economic activity. In a pure system
Free Market Economy: Meaning, Features, Examples, Pros, Cons
Some countries adopt a mixed economic system between a free market economy and a command economy. Some countries, such as Singapore, New Zealand,