Question

regulatory mechanism in the free market

regulatory mechanism in the free market

Homework Answers

Answer #1
  • The Regulatory mechanism in the free market is the competition
  • That drives the acquisition and use of Economic Resources
  • Sales of goods and services to consumers.
  • High competition is a natural factor for keeping production costs low to attract consumers.
  • In to buying a company's product.
  • A market system is the Economy found with in a nation.
  • Like any Economy,a free market has a Regulatory mechanism.
  • Both natural and artificial.
  • Competition drives the use of Resources
  • and the sale of goods and services to consumers.
  • Supply and demand is a common Economic theory applied to a free market system.
  • Government play a Regulatory role in the market system.
  • Too much involvement results in a command Economy.
  • Where government dictates Economic transactions.
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