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Market Economy, Graded! Types of economic Systems :
Mia S. & Rose N.,…
Market Economy
United States
Advantages: Consumers have a wide variety of products to choose from. Innovation is encouraged because of the profit motive and self-interest of the market participants.
Disadvantages include monopolies, no government intervention, poor working conditions, and unemployment.
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Characteristics: Private property, freedom, self-interest, competition, minimum government intervention
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