Mexico allows producers and consumers to make production and allocation decisions through the mechanism of supply and demand Such a system is called Select one: a. privatization b. communism. c. nationalization. d. socialism. e. a market economy.

Question

Mexico allows producers and consumers to make production and allocation decisions through the mechanism of supply and demand Such a system is called Select one: a. privatization b. communism. c. nationalization. d. socialism. e. a market economy.

Answer 1

###e. a market economy.

Answer 2

##Step1: Defining Market Economy###A market economy is a system where production and allocation decisions are driven by the interactions of supply and demand. This aligns with the description given in the problem.##Step2: Eliminating Other Options###Privatization refers to transferring ownership from government to private entities. Communism involves state control over the means of production. Nationalization is the opposite of privatization, where private assets become government-owned. Socialism involves collective or government ownership and control of the means of production and distribution of goods. None of these match the description in the problem.#

Question

Mexico allows producers and consumers to make production and allocation decisions through the mechanism of supply and demand Such a system is called Select one: a. privatization b. communism. c. nationalization. d. socialism. e. a market economy.

Solution

Answer

Explanation