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What are the advantages and disadvantages of the free market of economy? - Brendiieâ„¢ - 11-19-2012 03:06 AM
Please list down some advantages and disadvantages of a free market economy. Thanks for your help! ^_^
- Griffin - 11-19-2012 03:14 AM
This answer couldn't be written in such a small space.
Advantages:
-Price competition provides lower priced goods
-Competition demands efficient usage of raw materials
-Competition demands improvements
Disadvanage:
-Lacks social responsibility (that answer really encompasses a lot)
These are just some small items. Since there really are no completely free markets, it is hard to point to any country and call it a free market.