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9 December, 13:06

A free market exists

a. when the government places significant restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed.

b. only in fiction. there are no markets or economies which even come close to approaching the status of a free market.

c. when the government places few restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed.

d. when the government places absolutely no restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed.

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Answers (2)
  1. 9 December, 15:23
    0
    A free market exists when the government places few restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed. A free market is an economic system where prices are decided on if there is unrestricted competition between privately owned businesses. Supply and demand are the main factors in a free market and there is little to no government control.
  2. 9 December, 16:42
    0
    If there are few restrictions placed by government on how goods and services are produced, sold and on how a factor of production can be employed then a free market exists. Consumers and businesses can buy and sell products with less hassle. (The answer is letter C)
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