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Free market economy - Coggle Diagram
Free market economy
pros
interdependance of markets
production acording to consumer demand
the most effective way of production
innovation
good quality of products
investment
features
governmet is limited
freedom of choice and enterprise
system of markets and goods
competition
motive of self-interest
resourses
E4E
https://greengarageblog.org/4-pros-and-cons-of-free-market-economy
https://connectusfund.org/10-significant-pros-and-cons-of-the-market-economy
wikipedia.org
https://www.masterclass.com/articles/learn-about-market-economy#4-advantages-of-a-market-economy
cons
no system for competition
monopolies
huge government bureaucracy
profit-driven economy
examples
Europe
the US
Hong Kong
Australia
purposes
direct production of goods and services
independent economic choices of companies
limitetion of government control
price mechanism
surpluses
price fall
less demand
shortages
price rise
more demand