In the ideal conception of a free market, there are no parties, institutions, or governmental units regulating the price, quantity, or quality of any of the goods being bought and sold in the market.

Question

Quizplus · Accepted Answer

In a free market, there is a minimal amount of governmental regulation, which means that there are no parties, institutions, or governmental units regulating the price, quantity, or quality of any of the goods being bought and sold in the market. Instead, the market itself dictates these factors based on supply and demand.

In the Ideal Conception of a Free Market, There Are