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Question
State a country which follows a market economic system.
State a country which follows a market economic system.
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Solution
The correct option is B USA
Market economy is where the market transactions and markets are the drivers of economic activity. This is what exists in the USA. Although it is a democracy the economic system is majorly of capitalist nature and works more on profit orientation.
Market economy is where the market transactions and markets are the drivers of economic activity. This is what exists in the USA. Although it is a democracy the economic system is majorly of capitalist nature and works more on profit orientation.
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