Archive | Free Market Economy

The following article will guide you about how to control the price-level in a free market. 1. Maximum Price Legislation: We know that the price of a product is determined by the forces of demand and supply in a free market. However, at times the government considers it necessary, on economic and political grounds, to fix prices for particular commodities. [...]

The following four points will highlight the four chief features of a free market economy. Feature 1 # Property Rights: Property rights are social institutions that govern the ownership, use and disposal of resources, goods and services. There are different types of property which individuals and firms can privately own: (1) Real property which includes land, buildings, durable goods such [...]