The market system allows for the private ownership of resour

The market system allows for the private ownership of resources and coordinates economic activity through market prices.  Participants act in their own self-interest and seek to maximize satisfaction or profit through their own decisions regarding consumption or production.  Goods and services are produced and resources are supplied by whoever is willing to do so.  The result is competition and widely dispersed economic power.  Can you give an example?

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *