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Which of these would most likely happen under a free market? Government regulator set maximum prices. Political influence deter...Question
Which of these would most likely happen under a free market
Govt regulators set maximum prices
Political influence determines what products are made
An appointed agency decides where business can operate
Individual business owners set prices to complete for business
Govt regulators set maximum prices
Political influence determines what products are made
An appointed agency decides where business can operate
Individual business owners set prices to complete for business
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GPT-4o mini
Under a free market, the option that would most likely happen is:
**Individual business owners set prices to compete for business.**
In a free market system, prices are typically determined by supply and demand dynamics, and individual businesses have the flexibility to set their prices based on competition and market conditions. The other options involve government intervention or regulatory oversight, which are not characteristic of a purely free market economy.
**Individual business owners set prices to compete for business.**
In a free market system, prices are typically determined by supply and demand dynamics, and individual businesses have the flexibility to set their prices based on competition and market conditions. The other options involve government intervention or regulatory oversight, which are not characteristic of a purely free market economy.
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