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Free Market Economic Characteristics


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Economic Definitions

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Free Market Economic Characteristics

  1. 1. Free Market Economics The Good, The Bad, and the Ugly
  2. 2. The Goals of a Free Market Economy <ul><li>It is generally acknowledged that Free Markets exist to achieve four distinct sets of goals. </li></ul><ul><ul><li>Efficiency </li></ul></ul><ul><ul><li>Growth </li></ul></ul><ul><ul><li>Freedom </li></ul></ul><ul><ul><li>Variety </li></ul></ul><ul><li>Their effectiveness in achieving the goals is a topic of much debate and frequently results in Government Intervention. </li></ul>
  3. 3. Efficiency <ul><li>Free Markets, unhindered by government intervention, can rapidly adapt to meet changing dynamics between Producers and Consumers. </li></ul>
  4. 4. Growth <ul><li>Free Markets value, and rely on, entrepreneurs to create new products and ideas that in turn create new production and consumption demands. </li></ul>
  5. 5. Freedom <ul><li>Free Markets allow producers and consumers to act in accordance to their own best interests in regards to resource usage. </li></ul>
  6. 6. Variety <ul><li>Free Markets allow producers to focus on the fickle demands of consumers in order to maximize profits and efficiency. </li></ul>