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Explain the role played by consumers , business and government in a market economy HINT: focus on the factor and product markets

Justin Parker

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Blair Lewis on September 7, 2018

Good Day! In a market society, also known as "capitalism," the role is very clear. Consumers have the function of promoting the consumption of products or services, thus acting as a thermometer for the market, because it is from the likes and choices of the population that the market should be guided. The market, then, is the one that suits the demand and is produced in order to raise the customers and make sales. The government is an administrator, but should not interfere too much with the functioning of the market. The government must control and prevent unfair competition, take advantage of the strength of the currency and international competition. Hugs!


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