The free market in actual terms, and not in the theoretical ideal, consists of commerce legally constrained by what is economically desirable and what is socially desirable, as well.

Question

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The free market is not completely unrestricted but is subject to legal and social constraints that affect the behavior of participants in the market. These constraints are often in place to prevent harmful externalities or to promote fairness and equality. Therefore, the statement that the free market is legally and socially constrained is true in actual terms, as opposed to the theoretical ideal of a completely unrestricted market.

The Free Market in Actual Terms, and Not in the Theoretical