The market system's answer to the fundamental question "Who will get the goods and services?" is essentially:
- Those most willing and able to pay for them.
In a market system, goods and services are allocated based on the principle of demand and supply. Those who are willing and able to pay for the goods and services at the set market prices are the ones who ultimately receive them. This means that individuals with the purchasing power to buy goods and services are the ones who will acquire them in the market system.
For example, in a competitive market for smartphones, those individuals who have the financial means to pay the price set by the sellers will be able to purchase the smartphones. This system ensures that resources are allocated efficiently based on consumer preferences and the ability to pay.
