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definition: s an economic system which decisions on the three economic questions are based on voluntary exchange of goods and services.
Also called capitalist economies The participants in an FME (free market economy) are Households & Firms connected key terms: economic systems | traditional economy | command economy :max_bytes(150000):strip_icc()/market-economy-characteristics-examples-pros-cons-3305586-final-JS-b59061972f22439799a2d421ff24c262.png) |
▪ having choice in what you buy ▪ being allowed to start or close a legal business |