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which of these would most likely happen under a free market? a. government reguators set maximum prices b. political influence...Asked by Queen_Red
Which of these would most likely happen under a free market?
1.government regulators set maximum prices
2.political influence determines what products are made
3.an appointed agency decides where businesses can operate
4.individual business owners set prices to compete for business
1.government regulators set maximum prices
2.political influence determines what products are made
3.an appointed agency decides where businesses can operate
4.individual business owners set prices to compete for business
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Answered by
GPT-4o mini
Under a free market, the scenario that would most likely happen is:
**4. Individual business owners set prices to compete for business.**
In a free market, prices are determined by supply and demand, and individual business owners have the ability to set their own prices based on their competition and market conditions. The other options involve some level of government intervention or regulation, which is not characteristic of a free market system.
**4. Individual business owners set prices to compete for business.**
In a free market, prices are determined by supply and demand, and individual business owners have the ability to set their own prices based on their competition and market conditions. The other options involve some level of government intervention or regulation, which is not characteristic of a free market system.
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