Amadeo     1       About Market Economy

• Market economy controls the law of supply and demand.

Amadeo     1       Producers of Market Economy

• Producers sell there products at the highest price they can that people are able to pay. 

Amadeo     1    Characteristics of a Market Economy

• Private Property- most of the things are owned privately. The owner can make a legally binding contract.

Amadeo     1         Meaning of Market Economy

• People cannot sell your own self or other people.
• They also cannot sell their own body or body parts.  

Amadeo     1              Freedom of Choice

• In a free market people are alble to produce, sell, and purchase goods and services.

Amadeo     1        Motive of Self-interest

• People try selling goods to the highest bidder when they buy it for a cheap price.

Amadeo           2          Competition

• Thanks to Competitive pprices everybody keeps prices average and makes sure that goods and services are more efficient.  

Amadeo           2            Market Economy Pros

• It makes sure the most important things and services are produced thanks to supply and demand.

Amadeo          3           Market Economy Cons

• Elderly, Chhildren, and mentally challenged people have disadvantages.

Amadeo          3            Market Economy Ex

• It promotes the general welfare.