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.

Question

Quizplus · Accepted Answer

One of the fundamental characteristics of free markets is competition. Because businesses compete with each other, they must provide customers with quality products at fair prices and offer good service. Firms that produce poor products, charge high prices, or provide poor service will lose business to companies that provide customers with a better deal.

In a Free Market Economic System, the Lack of Government