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1. Digital Study Guide, written by William Walstad
2. Paul Solman Videos (Chapter Content)

After reading this chapter, you should be able to:

1. Differentiate between a command system and a market system.
2. List the main characteristics of the market system.
3. Explain how the market system decides what to produce, how to produce it, and who obtains it.
4. Discuss how the market system adjusts to change and promotes progress.
5. Describe the mechanics of the circular flow model.