The "informal defence" of free markets includes the argument that markets

Question

Quizplus · Accepted Answer

The argument that markets provide automatic coordination of the actions of decentralized decision makers is a key aspect of the informal defence of free markets, as it highlights the efficiency and effectiveness of market mechanisms in allocating resources and responding to changes in supply and demand. While choices A, C, and D are also commonly associated with the benefits of free markets, the argument regarding automatic coordination is more fundamental to the rationale for market-based systems. Choice E is not consistent with the principles of free markets, as it suggests the concentration of economic power in a centralized authority rather than the dispersed decision-making and competition that characterizes free markets.

The "Informal Defence" of Free Markets Includes the Argument That