2.03 Quiz: Free Market Economy
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Which statement is FALSE regarding the self-regulation of the market?
Producers will increase their prices if they have too many products on hand.
Which answer is an example of a market?
a Bulletin board with advertisements
What is a disadvantage of a free market economy?
income inequality
What did Adam Smith say that the free market economy is regulated by?
self-interest and competition
Why do markets exist?
to provide a place for people to trade goods and services
