Question

A country with what type of economy generally has a high standard of living?

Answer 1

The answer is free-market. One view is that a free market is a framework in which the costs for products and enterprises are controlled by the open market and purchasers, in which the laws and strengths of free market activity are free from any intercession by an administration, value setting syndication, or other specialist.

Answer 2

The country that generally have high standard of living usually use: Free market economy Free market economy gives a lot of freedom for private sectors in conducting their business. This makes the business thrive and give an average people more disposable income that they can use to fulfill their needs and preference