Free Market Economy

Free Market Economy - consumers. The supply refers to the...

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08/24/09 Econ 201 A free market economy‘s main differentiation from other economies is that it is has little or no government regulation. In a free market economy, business is run by the law of supply and demand. The demand of a product relates to the amount of a product that is desired by
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Unformatted text preview: consumers. The supply refers to the amount of a product that producers supply at a certain price. Overall, a free market economy is a term describing the voluntary exchange between two parties in the form of goods and/or services....
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This note was uploaded on 03/21/2012 for the course ECO 201 taught by Professor Dunlevy during the Spring '08 term at Miami University.

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