Economic system Advertisment
By : edouwaye omere
What are the benifits of a market economy system and why should people want it?
The market econmy gives producers and incentive to produce goods that consumers want . Also it provides an incentive to acquire useful skill , but it gives a high degree or economic freedom . you can be able to buy what you want , but dont forget you must pay for it . Since no one is kept from trying to get rich and everyone is paid for what they do , people acquire a sense that each person gets what they deserve economicaly , but rich and poor are responsible for their fates .
how does it work ?
A market economy is based on the principles of supply and demand, and lets business survive or fail without much interaction from the government.
who is in charge ?
In the market economy , the gov doesn't tell companies and citizens which types of products to provide and how much to charge for them .
how do they sell and buy the things that they need ?
They sell the things buy advertising it and asking people and also being free to their self .
$$$
Some people would say the free market economy creates a huge gap between rich and poor . But , in fact , it is the free will and work ethnic of the people that creates wealth .
$LOGANN
Profit, not necessity, is the mother of invention !