Advantages of Market Economy
Advantages of Market Economy
Market Economy is the economy in which the producers and consumers make majority of the important decisions. There are many businesses operating in the Market Economy so it is likely that the consumer is going to have choice. Businesses operate with the primary motive of earning more profit and one of the best to increase profit is to reduce costs. Reducing costs is going to increase efficiency. Consumer is the king and gets to decide everything. The market forces operate on the instructions of the consumer and their primary objective is to benefit the consumer.
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