Market Economies
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Resources are owned and controlled
by individuals
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Economic decisions are made
by individuals competing to earn profits
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Individual freedom is considered
very important
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Economic decisions are made
by the basic principles of supply and demand
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Profit is the motive for increasing
work rather than quotas
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Also called capitalist economies
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There are many economic freedoms
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There is competition among
businesses
Competition determines price
which increase the quality of the product