The government makes and enforces whatever laws are needed to guarantee free choice.
The government makes and enforces whatever laws are needed to guarantee free choice.
Laws against theft, fraud, and coercion are needed to protect free choice.
The government makes and enforces whatever laws are needed to guarantee free choice.
The free-market system has a circular flow of influence.
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
In a free market system
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
The profit motive undermines competition unless competition is protected.
A free market is an economic system where the government is not involved and prices are set by private business owners. The main implication is the fact that consumers are not protected and are therefore abused through exorbitant prices.
Laws against theft, fraud, and coercion are needed to protect free choice.