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Benefits of regulation in a free market economy

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Reference no: EM133154107

Please answer all questions in specific and give examples. 

 

  1. The business competes on the basis of price and other factors. What influences your buying decisions? Think about marketing, social factors, income levels and specific product qualities.
  2. How does the economic system affect one's ability to do business in a country? Can an entrepreneur/business owner operate the same way in a free market economy as in a command economy?
  3. Name an industry or product lineup that you really like which has greatly improved over time as a result of free-market economics. Briefly explain the changes that occurred in the industry or product as a result of competition.
  4. What are the benefits of regulation in a free market economy? Can there be downsides?

Reference no: EM133154107

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