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Introduction of Micro-Economics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIntroduction of Micro-Economics1 Mark
Question
What is a market economy?
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Answer

It is an economy in which goods and services are bought and sold freely in the market. Here, means of production are privately owned and economic activities are guided by self-interest and profit motive.

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