In a free market economic system,the lack of government control and regulation means that businesses find it easy to take advantage of customers by offering poor quality products at high prices.
Level of Learning 2: Understanding of concepts and principles

Question

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One of the key principles of a free market economic system is that competition drives businesses to offer high-quality products at reasonable prices. In a truly free market, consumers have access to information, and businesses must compete for their business. Without governmental interference, businesses are held accountable by the free market, and those that offer poor quality products at high prices are likely to lose customers to competitors who offer better quality and value. While government regulation can protect consumers, it is not the only means of ensuring that businesses act ethically and in the best interests of their customers.

In a Free Market Economic System,the Lack of Government Control