Unformatted text preview: services by the market is not efficient. Also, there is problem of free riding. In economics, collective bargaining, psychology, and political science, &quot;free riders&quot; are those who consume more than their fair share of a public resource. Although free market has quite a few disadvantages, we should not reject it, because it also has many advantages, like, it brings up competition, which brings improvement. We should always keep in mind that everything has good and bad aspects. http://en.wikipedia.org/wiki/Free_rider_problem http://en.wikipedia.org/wiki/Market_failure...
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This note was uploaded on 12/31/2011 for the course ECON 111 taught by Professor Jerryfreek during the Spring '11 term at Ave Maria.
- Spring '11