Please enable JavaScript.

Coggle requires JavaScript to display documents.

Point 4- The market economy, Markets: are physical or virtual spaces where…

- - - - This gives companies complete freedom to operate in the market, but in order to survive, they need to maintain their profits by:
        
        Reducing costs
        
        Increasing revenue
    - - This principle guarantees that indivuduals and companies have:
        
        The right to own the resources necessary for production
        
        The opportunity to accumulate wealth
    - - A person is free to make economic decisions as:
        
        Owner
        
        Consumer
        
        Producer
    - - The price of goods and services is determined by:
        
        The law of supply and demand
        
        The market situation
        
        Intervention by the State to guarantee access to basic necessities
        
        The need to cover the cost of production