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Hi my name is Tiffanie and this is a Market Economy
Market economies answer the three basic economic questions by business owners and getting resources and goods from the markets.
One advantage Market economies have is that it makes people more innovated and it produces more productivity
Like this blacksmith here, the more things he creates and the faster he does it , he makes more money
Another advantage is that it increases efficiency.
Even though there are some advantages, there are also some disadvantages to the market economy like poor working conditions
there can also be inequitable distributions of money and wealth
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