Question

Name seven main advantages to a market economy. Give at least one illustration of each of these advantages.

Answer 1

A market economy offers the advantages of efficiency, entrepreneurship, consumer sovereignty, price as an information source, increased competition, adaptability to change, and wealth creation, with illustrations such as tech start-ups, organic markets, and smart energy investments.

Step-by-step explanation:

The following are seven main advantages of a market economy:

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