What are the advantages and disadvantages of the free market of economy?
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11-19-2012, 03:06 AM
Post: #1
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What are the advantages and disadvantages of the free market of economy?
Please list down some advantages and disadvantages of a free market economy. Thanks for your help! ^_^
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11-19-2012, 03:14 AM
Post: #2
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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. Ads |
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