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11-01-2018
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Mark wants to sell his condo. Jack and Nick are two prospective buyers. Jack is willing to pay the amount quoted by Mark, while Nick is unable to pay such a high price for the condo. Because Jack is able to pay the asking price, Mark sells his condo to Jack. In which type of economy does this transaction take place?

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Аноним Аноним

11-01-2018

The correct answer here is that the economy in which Mark, Jack and Nick are operating is a market economy. A market economy is an economy that encourages buyers and sellers to act competitively so that the best deal can be achieved for all.

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