One key feature of a market economy is price flexibility, which allows most prices to rise and fall to reflect the forces of supply and demand.

Question

Quizplus · Accepted Answer

In a market economy, most prices are determined by the forces of supply and demand, which means that they can adjust and fluctuate according to market conditions. Therefore, price flexibility is one of the defining characteristics of a market economy.

One Key Feature of a Market Economy Is Price Flexibility