Out Line The Advantages And Disadvantages Of Free Market Economy(price Determination With Market Forces) And Government Intervention With Free Market Equilibrium Price, You Know?

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Anonymous Profile
Anonymous answered
There are many advantages of free market economy
1.the owner have freedom to produse on his own choice
2.qualited goods will  be produce
3.he can fulfill the wants of people
4.he will b the only owner no one can order him
5.he don't have to sahre his profit with any one else.
Disadvantages...!
1.he dost have govt suppoet that's whay the system could be un controled.
2.goods will be expencive
Sana Rashid Profile
Sana Rashid answered
Free market economy disadvantages which can be changed to government intervention advantages:
Less provision of merit goods
no provision of public goods
uncontrolled consumption of demerit goods
no consideration of social costs and benefits
wastage of resources
free market is the perfect solution to the perfect world. Since imperfections exist in the world, free market forces can sometimes harm the poor
no incentives for the poor, sick and elderly
Free market advantages which can be changed to disadvantages of government intervention:
Consumers have wider choice
equilibrium price determines what to be produced and sold instead of government individuals
there is an incentive to work, people are given no state benefits for doing nothing

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