0
A free market is one in which decisions about what to produce and in what quantities are made by the market- that is, by buyers and sellers negotiating prices for good and services. If something is wanted but is not available, the price tends to go up until someone begins making more of that product, sells the ones already on hand or makes a substitutes.
(From The Desk of Dr. Adnan Iqbal )
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Disadvantages of market mechanism?
it does not take into account market power, public goods, merit goods and externalities. it works in a free market and not in a controlled one.
Can I learn about stock market basics online for free?
You an look it up on Wikipedia and through Google on how the market works. Yes, you can learn about stock market basics online for free. www.daytrading.about.com and moneycentral.msn.com are two informative websites for learning more about the stock market.
Why is a free market a type of market failure?
In a free market, there is profit to be made by making the free market not a free market. Therefore, a completely free market destroys itself.
The invisible hand is .?
The mechanism that works in a free-market (the market we observe in the USA or UK) which equates supply and demand. This obviously doesn't always occur, but it is the "invisible hand" that we refer to.
What is the opposite of free market?
A free market economy
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
Is France's economy free market or command?
free market
How do you put signature on samsung behold?
You have to go on to the android market and download chomp sms and its free and it works great it has a lot more features!
Is the Dominican Republic a Free Market?
Dominican Republic is a Free Market
Who makes decisions in a free market system?
In a free market system
What is canadas economy based on?
A free market economy
What is free about a free market?
The free market provides people with the goods they want at the price they are willing to pay. -or- Free-market economies result in a very unequal distribution of wealth.
