Question

mention the importance of free economic system​ ​

Answer 1

Answer:

Economics is important for many areas of society. It can help improve living standards and make society a better place. Economics is like science in that it can be used to improve living standards and also to make things worse.

Answer 2

Answer:

In a free market economy, business owners enjoy the freedom to come up with new ideas based on the consumers' needs. They can create new products and offer new services at any time they want to. As such, entrepreneurs rarely rely on government agencies to notify them of consumers' needs