______ refers to 'economic freedom' or 'freedom for economic decision'. It means producers, consumers and owners of factors of production, are free to take decision to promote their self interest. *
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Free market is the answer
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Liberal free market refers to 'economic freedom' or 'freedom for economic decision'. It means producers, consumers and owners of factors of production, are free to take decision to promote their self interest.
- Economic freedom also implies little to no government control or interference.
- It can also take form of illegal market.
- It is the forces of demand and supply which bring equilibrium in such market.
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