题目内容
A free-market economic system is one in which the market of buyers and sellers decides what is produced, how much is produced, and how it is distributed.
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Under the basic principle of supply, as the price goes down, manufacturers and suppliers of a product tend to supply less of the product to the market.
Demand refers to the quantity of a good that consumers are willing and able to buy at different prices at a specific time.
At the equilibrium price, the quantity consumers desire to buy equals the quantity sellers desire to sell.
In socialist economies, the government owns some, if not most, basic businesses such as telecommunications systems and utilities.
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