Which of the following is generally true of a competitive free market economy?(1 point)

Question

Responses

It can run itself without the intervention of government.
It can run itself without the intervention of government.

It depends on government intervention to run effectively.
It depends on government intervention to run effectively.

It requires a planning commission to set prices.
It requires a planning commission to set prices.

It needs assistance to find its own equilibrium

Answer 1

The generally true statement about a competitive free market economy is:

It can run itself without the intervention of government.

In a competitive free market, prices and production are determined by supply and demand, allowing the market to function effectively without the need for government intervention.