Question

_________ is the popular name for a free-market economy in which business people make most of the decisions about what products to produce, how many workers to hire, and what prices to charge for goods and services.

Answer 1

Capitalism

Step-by-step explanation:

Capitalism -

It is the economic system which is based on the ownership of private firm , i.e. , the production and operations , is referred to as capitalism.

The features of capitalism are -

a price system , voluntary exchange , wage labor , capital accumulation , private property etc.

Hence, from the given information of the question,

The correct term is capitalism.