Market Economy

Social Studies, Grade 6

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Study Guide Market Economy Social Studies, Grade 6

MARKET ECONOMY What is a Market Economy? An economic system is the way a country makes and sells goods. In some countries, the government is in charge of what people buy and sell. In a market economy, people chose what goods and services they want to buy. They also choose where they want to work and what they want to do. Market economies depend on the laws of supply and demand in order to be successful. Goods and services are made available because the people in a market economy show demand. If there was no demand, the products would not sell. In a market economy, the government does not have control of the economy. Some people think the government should have some say in how businesses are run and others disagree. Either way, in a market economy, the government cannot control how much or how little people can buy or sell. © Copyright NewPath Learning. All Rights Reserved. Permission is granted for the purchaser to print copies for non-commercial educational purposes only. Visit us at www.NewPathLearning.com.