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What Are The Advantage And Disadvantage Of Free Market?
In economics what the free market and what the advantage and disadvantage.
asked 8 months ago
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The main advantage of free economy is that all good and service offered in an economy are in partial or perfect competition. This state of economy ultimately give assistance to the end consumer because of the price benefit enjoyed. However one major disadvantage is that due to free economy local inefficient industries collapse or the industry which is at infancy in some local market may not be able to survive due to intense competitive environment. This may hinder innovation and create unemployment.
answered 8 months ago
The advantage is variety in goods and services
The disadvantage is, without parameter and income tax, the strong ones become stronger and form up monopolies.
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Free Market
answered 8 months ago
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"local inefficient industries collapse "
As far as I am concerned, inefficient industries SHOULD collapse. Darwinism operates within the business world as well.
comment made by BillZBub 8 months ago
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