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Businesses may charge their own prices and may also form monolpolies. Without government regulation, a single firm could control one product and charge the consumer higher than what it is worth to maximize its own profit. (especially if the product is considered essential for living)
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What is one negative feature of a free market economy?
No one is really in charge, so it's insecure and uncertain.
What is a basic feature of the free-market system?
A basic feature of the free market system is that consumers make their own economic choices
The free-market system has many advantages but there are also some drawbacks Which of the following is a negative feature of a free market economy?
Economic development is unpredictable and goes up and down.Economic development is unpredictable and goes up and down.
What is a negative feature of a free market system?
It's unequal; some people do well while others do not
What is the main feature of a free market?
The main feature of a free market is the voluntary exchange of goods and services between buyers and sellers, driven by supply and demand. Prices are determined by market forces rather than government intervention, allowing for competition and innovation. This system encourages efficiency and consumer choice, as businesses must adapt to meet the needs and preferences of consumers. Overall, a free market promotes economic freedom and individual entrepreneurship.
Which of the following is a negative features of a free market system?
It's unequal; some people do well while others do not.
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.
Do market and supply curves have negative slopes?
Do market supply curves have negative slopes
What is the opposite of free market?
A free market economy
What is the key feature of circular flow?
the market.
The key feature of a market system is?
A. competition.
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.
