Introduction of Micro-Economics — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 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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