Free Market by S3a3DA

VIEWS: 2 PAGES: 2

									                    Free Market




Market: an arrangement that allows buyers and sellers to
exchange things



Why market exist
Markets exist because no one is self-sufficient
Specialization make us more efficient




Free Market Economy
Voluntary exchanges in markets
Households (land, labor, capital)
Firms (organization makes and sells)
What drives a free market
Self-Interest
Competition
The Invisible Hand (combination of interest & competition)




             4 Advantages of the Free Market

  1. Economic Efficiency    (make what people want)
  2. Economic Freedom       (work where you want)
  3. Economic Growth        (expand in size)
  4. Additional Goals       (variety of goods)

								
To top