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advantages of a market system are as follows
1.consumer and producer sovereignity is upheld to the maximum.-that is consummers can purchase any good they wish while producers can create any good they wish without government hindrance.
2.competition exists in market systems.
this results in firms looking at new techniques and innovations to capture the market.
3.producers have an incentive to work harder due to the profit motive.
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What type of economic system does Turkey have?
Its a Free market economic system
What economic system do Romania presently use?
Free market economic system
What economic system does Romania have?
Now is a free market system.
Free market economic system?
consumer
What is a basic feature of the free-market system?
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How is the economic system of Puerto Rico?
the economic system is free market. I'm not sure how it is but you can look up Puerto Rico's free market economic system
What type of economic system does Turkey have?
Its a Free market economic system
What economic system do Romania presently use?
Free market economic system
What economic system does Romania have?
Now is a free market system.
Free market economic system?
consumer
What economic system is Romania currently using now?
Free market economic system
What economic system does French Guiana have?
a free market system
Do you have a free market system in the US?
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What are the disadvantages of a free-market system?
A free market economy has its advantages as well as disadvantages. Some disadvantages are that a competitive environment creates an atmosphere of survival of the fittest. Wealth is not distributed equally, and there is no economic stability.
What economic system does a capitalist country?
free market
What is a basic feature of the free-market system?
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The police force does not handle the free market system. It is handled by economic forces.
