(1 point)
Responses
government regulators set maximum prices
government regulators set maximum prices
political influence determines what products are made
political influence determines what products are made
an appointed agency decides where businesses can operate
an appointed agency decides where businesses can operate
individual business owners set prices to compete for business
1 answer
Under a free market, the response that would most likely happen is:
individual business owners set prices to compete for business.
In a free market, prices are typically determined by supply and demand, and individual businesses have the freedom to set their prices based on competition. The other options involve government intervention or influence, which is contrary to the principles of a free market.
