Question

multiple choice question
an economic system that operates mainly on private transactions where firms are free to make their own production, distribution, and pricing decisions
o socialism
o social democracy
o a free - market system
o communism

Explanation:

Socialism involves more state - owned and planned elements. Social democracy combines a market economy with a welfare state but has more government intervention than described. Communism aims for common ownership and a class - less society with central planning. A free - market system is characterized by private transactions and firms having the freedom to make production, distribution, and pricing decisions.

Answer:

C. a free - market system