5 characteristics of a free market system
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Competition
Companies have a competitive drive, thus better quality and more variety and lower prices.
Freedom of choice
Entrepreneurs are encouraged to start businesses, Everyone can choose what to do/buy/sell
Motivation of self intrest.
People do things that benefit themselves,
Private Property
People own stuff, not the government
Limited Government
The people decide stuff, not the government (hands off approach) Companies are on their own.
5 characteristics
Private property, Freedom of choice, Motivation of self intrest, competition, limited government.
