Answer:
Economic freedom is a term used in economic research and in political debates. It signifies the opportunity for companies and residents to conduct economic activities with as little government intervention as possible. Economic freedom is considered to be great if taxes are low, if ownership is maintained, if regulations and bans are few, and if trade is free.
Economic freedom contributes to the economic development of nations, as it allows individuals and businesses to enjoy greater opportunities for growth through investments or the development of new jobs. Thus, a flow of money is generated that contributes to the dynamism of the economy, generating social improvements and stability for citizens.