Question

2 Free Market Economy Summary: Imagine you are a business owner. You have a set of goods you sell, make, or produce in some way. Your store can be whatever you like including one that sells goods, one that sells services, or a corporation of some sort. Using what you have learned about the free market economy and reflecting upon the work from earlier this week, summarize how your business would function under each form of economic system. Give examples of what it would look like. Be creative in your narrative as this is supposed to be a fun and creative writing using what you have learned. Traditional: I Free Market: Command: Mixed:​

Answer 1

Explanation:

Note, a free-market economy is an economy that little government control over the supply and demand of most goods and services.

Since we operate under a free market economy, we would have or expect to have competitors who sell similar goods and services as we do. We would expect the prices of goods and services to change based on supply/demand factors. And lastly, as a corporation of some sort, we are going to enjoy the freedom to expand our operations without government restrictions.