What are some PROS of the market economy?

Answer 1

Competition between different firms leads to increased efficiency, as firms do whatever is necessary—including laying off workers—to lower their costs;


Most people work harder (the threat of losing one's job is a great motivator);


There is more innovation as firms look for new products to sell and cheaper ways to do their work;


Foreign investment is attracted as word gets out about the new opportunities for earning profit;


The size, power, and cost of the state bureaucracy is correspondingly reduced as various activities that are usually associated with the public sector are taken over by private enterprises;


The forces of production, or at least those involved in making those things people with money at home or abroad want to buy, undergo rapid development;


Many people quickly acquire the technical and social skills and knowledge needed to function in this new economy;


A great variety of consumer goods become available for those who have the money to buy them; and


Large parts of the society take on a bright, merry and colorful air as everyone busies himself trying to sell something to someone else.

Answer 2

(here are both pros and cons)
-Good prices
-Low wages
-competition
-new businesses
-failing businesses
-higher technology developments
-better employees
-worse benefits