Mark wants to sell his condo. Jack and Nick are two prospective buyers. Jack is willing to pay the amount quoted by Mark, while Nick is unable to pay such a high price for the condo. Because Jack is able

Mark wants to sell his condo. Jack and Nick are two prospective buyers. Jack is willing to pay the amount quoted by Mark, while Nick is unable to pay such a high price for the condo. Because Jack is able to pay the asking price, Mark sells his condo to Jack. In which type of economy does this transaction take place? command economy communist economy market economy traditional economy

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Mark wants to sell his condo. Jack and Nick are two prospective buyers. Jack is willing to pay the amount quoted by Mark, while Nick is unable to pay such a high price for the c…

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