In a market system, who decides what goods and services are produced and how they are...
In a market system, who decides what goods and services are produced and how they are produced and who obtains the goods and services that are produced.
Homework Answers
In a market system, consumers decide what goods and services are produced.The producer will produce the goods and services what consumers want.If consumers want more of a good and service, demand increases and the price of the good and service increases. Producers earn more profit out of it. Then, this,higher profits attract new producers to the industry.
How goods and services are produced is determined by the search for profit.
Who obtains the goods and services that are produced depends on whoever is willing to pay for the goods and services.
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