💡Free market = an economic system with few restrictions, where sellers set their own prices.
A free market is like a big, bustling marketplace with no boss. 🏪
Buyers and sellers freely trade, setting prices by supply and demand rates. ⚖️
Imagine a peach stand at a local farmer's market. 🍑
If there are a lot of peaches but no demand, the seller can lower the price as much as they want. 📉
If peaches are super rare, the seller can jack up the price as much as they want! 📈
Free markets help resources flow to where they're most valued. 💎
However, they can lead to inequalities and need some rules to prevent abuse. ⚖️
The stock market is also a free market, where anyone can buy and sell stocks! 📊
So, free markets influence not just our everyday shopping, but also the global economy! 🌍
Choose an option
A market where everything is given away for free.
A place where buyers and sellers freely set prices with few restrictions.
A market controlled entirely by a single entity.
Only certain people can buy and sell goods.
Prices are fixed and don't change.
Prices can fluctuate based on supply and demand.
True
False
Microeconomics
Macroeconomics