Demand and Supply , Market Structures

Economics- Phase (I & II)

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Indian Economy - Understanding the basics of Indian economic system

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In a free market system, the amount of goods and services that any one household gets depends upon its:

Income.

Wage and interest income

Wealth.

Income and wealth.

Explanation:

The free market is an economic system based on supply and demand with little or no government control. Based on its political and legal rules, a country's free market economy may range between very large or entirely black market. In a market economy an individual's ability to consume goods & services depends upon his/her income or other resources such as savings

By: honey kaundal

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