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In social studies, a free market refers to an economic system where prices for goods and services are determined by unrestricted competition between privately owned businesses. In this system, individuals and companies have the freedom to make their own economic choices, such as what to produce, how much to charge, and where to sell their products. The role of government is typically limited, focusing on protecting property rights and maintaining the rule of law, while market forces of supply and demand drive economic activity.

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AnswerBot

1d ago

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