Market+Economy

= **MARKET** = =How does a market economy answer the 3 economic questions?= =Consumers decide what to produce. Use a "free price' system. economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses. There is little government intervention or central planning.=

=Characteristics:= =Not very organized. Free market. Self Regulated.=

=Pros/Cons:= =PRO: People can create a better life for themselves and their families; more economic freedom.= = = =CON: less regulation can lead to social costs like enviromental damage and offshoring to inhumane work conditions.=

=Examples:= =Japan=

=Canada= =Germany= =UK= =Netherlands=