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A free market, which has no interference from outsiders, like the government, is efficient because it forms a natural equilibrium between supply and demand. Suppliers are willing to supply the good and consumers are willing to buy the good at the price and quantity set by the natural forces of the free market. In this system, there is no deadweight loss.
What else can I help you with?
Why the free market system brings efficiency as freedom?
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.
Explain why the free market system brings efficiency as well as freedom?
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.
Why is the free-market system system brings effiency as well as freedom?
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
Why is the free market system system brings effiency as well as freedom?
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
Explain how a market system achieves economic efficiency?
market systemWhere money is used for exchange in place of goods and services.According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. If they do not like the way one company does...
Why free-market system brings efficiency?
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.
Describe two benefits you enjoy because of the free-market system Be sure to state why the free-market system brings each of these benefits?
Better goods and services, plus we control our own production
Who makes decisions in a free market system?
In a free market system
What invisible hand directs the free market?
Incentives and efficiency
Describe two benefits you enjoy because of the free market system be sure to state why the free market system brings each of these benefits?
My job and my car are two examples of the benefits of a free market system. Free market means I choose. I chose a career path based on my likes and dislikes and looked for a job that best reflected my interests. I like economics, therfore I did not become a cook. I chose my car from various dealers. No one forced me to accept a car I did not like. The problem is when a free market becomes a monopoly. In a monopoly you have no choice and have to accept whatever they offer at the prices the supplier stipulates.
Which of the following is another term for a free-market system?
CapitalismcapitalismAnother name for free market system would be called second market. This is a non- profit market.
What kind of econmoic system does capitaslist country have?
free market
