Free Market Economic Systems
Regulates the Marketplace
Advantages of the Free Market
1. Economic Efficiency: Producers provide only the goods and services that consumers want, and generally at prices consumers are willing to pay.
2. Economic freedom: Workers work where they want, firms produce what they want, and individuals consume what they want.
3. Economic growth: Entrepreneurs are always seeking profitable opportunities, contributing new ideas and innovations.
4. Additional goals: Consumers, in essence, have the power to decide what gets produced. This is called consumer sovereignty.