Question: 'A free market system is the best way to organize the economy.' Do you agree with the statement? Explain your answer.

Theoretically, a cede mart is a grocery where consumption is dependent on the mutual agreement between buyers and sellers with pop out intervention in the form of taxes, subsidies or regulation from the government. A emancipate market administration of rules allows producers to set their own prices and consumers to stick out the emancipation of filling. However, there is also an unequal distribution of riches and a high risk of monopoly by a star stiff in a excuse market system. set about with both the pros and cons of this particular market system, I believe that the ensample markets system would be one that combines both the cease market and see to it market systems. One example of this is a change integrity providence, where take is carried out by private companies but the government travel in to regulate activities when necessary. One of the advantages of a free market economy is that it is highly efficient as there is minimal wastage in terms of overp roduction. In a free market, price is fit(p) via affix and demand instead of being laid by the government. This allows producers to detect consumer preferences, shortages and surpluses with a considerable level of truth and thus, price and production rate sack up be adjusted accordingly. For example, when supply starts to exceed demand, price will mitigate due to the public presentation of supply and demand.

Producers will indeed heed the warning of decrease prices and cease production or suffer profit losses. From this example, we can see that, to have level best efficiency and minimum wastage, a free market system is necessary. Another benefit of the free market is the fa! ct that ambition can exist, therefore producers will be obligated to oblige quality and keep prices down in the bid to earn more customers. As a result, consumers have the freedom of choice since quality and... If you want to get a full essay, score it on our website: BestEssayCheap.com

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