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What is Understanding Market Economy Basics about?

This document discusses market economies and businesses. It defines a market economy as one where markets play a dominant role in economic decision making. It also defines business as organized efforts by individuals to produce and sell goods and services for profit. An entrepreneur takes on financial risks to start and operate a business by combining material, human, financial, and information resources. Businesses are either manufacturers that process materials, service providers, or middlemen that buy fr

Author

Arina Byebye

Language

EN