Question

define pure market economy (50 points)

Answer 1

Answer:

Pure Market Economy. In a pure market economy, all of the factors of production are owned by individuals who sell them or the use of them to firms for the production of goods and services.

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Explanation:

Answer 2

A pure market economy means that each decision regarding the price and the quantity is made by the individuals itself without the interference of the government.

What is pure market economy?

A pure market economy is defined as a system that is making economic decisions such as production and price. With little government involvement, by producers and consumers.

A pure market economy is one in which individuals make their own price and quantity decisions without the intervention of the government.

Therefore, in the pure market economy, person can take the decisions individually.

Learn more about the economy, refer to:

https://brainly.com/question/951950

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