What Was A Key Idea In The Free-market System?


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Ellie Hoe answered
The key idea in a free market system is that the market is very liberal and there are no government interventions and regulations. The only role of the government in the free market system is the maintenance of the legal system and protection of the property rights. The market is controlled by the supply and demand of the products and services. There is free competition in the economy which means that price is the determinant of the buyers and sellers' decisions. The supporters of the free market system advocates that such conditions give more opportunities to market to grow.

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