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Because, according to the first two fundamental theorems of welfare economics, any free market is capable of providing a price vector solution. This means that free markets naturally create efficient outcomes.

Q: Why is the free market system an effective means of supplying people with public goods?
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Because, according to the first two fundamental theorems of welfare economics, any free market is capable of providing a price vector solution. This means that free markets naturally create efficient outcomes.

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Mean welfare in micro ecomomics is grapes.

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David M. Winch has written:

'Analytical welfare economics' -- subject(s): Welfare economics

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Carl morx

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classification of economics

1-Applied economics

2-Theoretical economics

i)Welfare economics

ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)

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