advantages and disadvantages of an open market
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The lack of government control allows free market economies a wide range of freedoms, but these also come with some distinct drawbacks.
Advantage: Absence of Red Tape. ...
Advantage: Freedom to Innovate. ...
Advantage: Customers Drive Choices. ...
Disadvantage: Limited Product Ranges. ...
Disadvantage: Dangers of Profit Motive.
Answered by
1
Answer:
The lack of government control allows free market economies a wide range of freedoms but these also come with some distinct drawbacks.
Advantage 1 Absence of Red Tape
Advantage 2 Freedom to Innovate
Advantage 3 Customers Drive Choices
Disadvantage 1 Limited Product Ranges
Disadvantage 2 Dangers of Profit Motive
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