i bet you don't because you are all idiots and fascists.
2006-08-03 06:11:59 · 5 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
I was an econ major, and my understanding is, (without looking):
A free market, is where there is open competition. Meaning, there is no limit to the number of competitors in any given market. This CREATES a supply/demand trade off, and competition drives prices down to the equilibrium point.
This IS NOT what we have in USA. There are some markets in USA that are free market, but most are oligopoly, meaning a few large groups control the market, and the cost to enter the market (to a new younger entrant) is either too expensive, or unfeasible. This is true for Cola companies, Tobacco companies, Gasoline companies, Movie production, the list goes on...
2006-08-03 06:21:02 · answer #1 · answered by Have_ass 3 · 1⤊ 0⤋
FYI buddy, a free market is a market determined by supply and demand.
2006-08-03 13:17:39 · answer #2 · answered by Rock4Life 2 · 0⤊ 0⤋
Come on. Everybody knows that a free market is what you have when you abscond with those Twinkies at your local seven eleven.
2006-08-03 13:19:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
free market is a place where ppl get to choose from a variety of products and a consumer gets the freedom of choice which is really essential......Producers too on the other hand get to manufacture produts of their of wish and will......set them at any price they want and bla bla
2006-08-03 13:17:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You mean that price is determined by supply and demand???
2006-08-03 13:15:53 · answer #5 · answered by jurydoc 7 · 0⤊ 0⤋