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Vilka [71]
3 years ago
6

define free market system and identify and describe at least three of its major concepts or attributes

Business
1 answer:
ladessa [460]3 years ago
3 0
Free market economies allocate resources through demand and supply with minimal government intervention.

private ownership- all factors of production within the economy are owned mainly by private individuals and organizations.

Free enterprise- owners of factors of production and producers of a goods and services a free to produce what they want through the market forces of demand and supply.

Competition- <span>Companies have a competitive drive, thus better quality goods and more variety of products which are at lower prices. (more productively efficient )</span>
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