What is a market economy?what are some disadvantages of living in a market economy? Explain

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22-10-2021
Business

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What is a market economy?what are some disadvantages of living in a market economy? Explain

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Аноним Аноним · Answer 1 · 2021-10-22T14:00:30+02:00

Answer:

A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand.

Disadvantages:

A tendency for an inequitable distribution of wealth, poorer work conditions, and environmental degradation.Since profit maximization is the biggest motivation for firms, they may try to reduce their costs unethically. Unemployment and Inequality.