Despite a severely low amount of natural resources, Japan has a thriving economy. This is largely due to the freedom Japan's economy has had to explore and develop new technology. Such freedom is found in which type of economic system? A) Command B) Market C) Socialist D) Traditional

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princess0mathgeek princess0mathgeek

09-03-2016
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Despite a severely low amount of natural resources, Japan has a thriving economy. This is largely due to the freedom Japan's economy has had to explore and develop new technology. Such freedom is found in which type of economic system? A) Command B) Market C) Socialist D) Traditional

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andriansp andriansp · Answer 1 · 2016-03-19T05:16:48+01:00

The answer would be B.. Market

Market Economic system is an economy in which The decisions regarding any economic activity are based on market's supply and demand.

Unlike in command economic system where the government will tell their citizens exactly what to produce and what to sell, Market Economic system provided a free environment for the citizen to do whatever they want.

NB : Japan's industrialized free market economy is the second largest in the world