Chapter 2: Introduction
This chapter is remixed from “Introducing the Market System”, Lumen Learning and is licensed under CC0 No Rights Reserved
The Market System
In this chapter, you will learn how to:
- define a market system
- identify the various types of market systems and explain the differences between them
- explain the characteristics of a free market system
- describe the production possibilities model and name the five questions that describe the main choices behind the model