Price is the coordinating mechanism in a laissez-faire economy.
Correct Answer:
Verified
Q208: All markets involve buyers and sellers engaging
Q209: The freedom of individuals to start and
Q210: The market system works by getting each
Q211: The notion that buyers determine what will
Q212: Some economists advocate government intervention in a
Q213: No market economies exist without government involvement
Q214: A command economy is one in which
Q215: The idea that consumers determine what is
Q217: In their pure forms, laissez-faire economies and
Q218: In a laissez-faire economy, what provides individuals
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents