The features of the Market Economy include:
1. decisions regarding production and consumption are taken by a central authority
2. The invisible hand harnesses the power of self-interest for the good of society
3. Steady growth without fluctuations
Select the correct statements from the codes given below:

Answer: [C] Only 2

A market economy is an economic system in which economic decisions and the pricing of goods and services are based on market determined supply and demand, and prices of goods and services are determined in a free price system.

This question is a part of GKToday's Integrated IAS General Studies Module