Answer:
Free Market
A free market economy promotes the production and sale of goods and services, with little to no control or involvement from any central government agency.
Step-by-step explanation:
Advantage:
- Absence of Red Tape
- Freedom to Innovate
- Customers Drive Choices
Disadvantage
- Limited Product Ranges
- Dangers of Profit Motive
- Market Failures
command way of running the cafeteria.
There are advantages and disadvantages of running the cafeteria in either way. In the original example, the cafeteria is being run like a command economy. In this scenario, all students are looked after; the meals are cheaper because they are government subsidized, and the food is healthier because the students do not have as much of a say. Some disadvantages of this way of running the cafeteria include that the students are very dissatisfied with the school food, there are feelings of frustration because the principal won’t listen to the students’ requests, and the students have turned to a silent rebellion to voice their opinion. Running the school like a market economy also has advantages and disadvantages. The students are far more satisfied with their school food, and are pleased that their voice is listened to, however they are eating less healthy foods, and the lunch is more expensive because it is not government.