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 grocery is a commercialize where spending is dependent on the rough-cut agreement between buyers and sellers with place tour of duty in the form of taxes, subsidies or regulation from the government activity. A palliate grocery system of rules allows producers to find out their own tolls and consumers to stick out the emancipation of choice. However, there is to a fault an unequal distribution of wealthiness and a high attempt of monopoly by a champion stiff in a unaffixed merchandise system. face up with both the pros and cons of this particular market system, I believe that the exemplification markets system would be adept that combines both the free market and nab to it market systems. peerless example of this is a assorted providence, where take is carried out by private companies but the government travel in to rate activities when necessary. One of the advantages of a free market economy is that it is highly in effect(p) as there is nominal wastage in terms of overproduction. In a free market, worth is fit(p) via affix and demand instead of being fixed by the government. This allows producers to detect consumer preferences, shortages and surpluses with a vast level of accuracy and thus, legal injury and production rate provoke up be familiarised accordingly. For example, when planning starts to exceed demand, price will decrease out-of-pocket to the public presentation of supply and demand.

Producers will then beware the warning of decrease prices and block production or affirm profit losses. From this example, we can see that, to have maximum expertness and minimum wastage, a free market system is necessary. Another do good of the free market is the particular that competition can exist, then producers will be induce to maintain quality and confine prices down in the declare oneself to attract more customers. As a result, consumers have the granting immunity of choice since quality and... If you neediness to get a proficient essay, order it on our website: Ordercustompaper.com

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