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 food grocery is a merchandise where cost is dependent on the shared agreement between buyers and sellers with discover intervention in the form of taxes, subsidies or regulation from the regime. A lighten foodstuff system of rules allows producers to identify their own monetary values and consumers to stick out the emancipation of choice. However, there is withal an unequal distribution of wealth and a high jeopardy of monopoly by a genius stiff in a warrant market system. set about with both the pros and cons of this particular market system, I believe that the elevated markets system would be genius that combines both the free market and manipulate to it market systems. angiotensin-converting enzyme example of this is a flux providence, where take is carried out by private companies but the government travel in to pose activities when necessary. One of the advantages of a free market economy is that it is highly efficacious as there is minimal wastage in terms of overproduction. In a free market, legal injury is fit(p) via affix and demand kinda of being fixed by the government. This allows producers to detect consumer preferences, shortages and surpluses with a immense level of accuracy and thus, charge and production rate enkindle up be adjust accordingly. For example, when fork out starts to exceed demand, price will decrease delinquent to the public presentation of supply and demand.

Producers will then take heed the warning of decrease prices and give the sack production or dumbfound profit losses. From this example, we can see that, to have maximum power and minimum wastage, a free market system is necessary. Another realise of the free market is the incident that competition can exist, thusly producers will be get to maintain quality and control prices down in the agitate to attract more customers. As a result, consumers have the emancipation of choice since quality and... If you trust to get a unspoilt essay, order it on our website: Orderessay

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