In Country B, business owners decide what to produce, how much to produce, and who to produce for. There is no government regulations to
answer to. The CEO of Tarheelia Audio, one of the leading audio equipment
producers in the country, recently decided to increase production levels of
the company's newest MP3 player model, and at the same time decrease
production levels of their most popular CD player. The reason for the
emphasis on MP3 players is that the demand for CD players has decreased
dramatically as MP3 technology has taken over the market. Simply put,
there is more profit to be made in the MP3 market. *
O Mixed Economy
O Market Economy (Free Market)
O Command Economy (Central Gov Economy)
O Traditional Economy