Question

what do you understand by open market?​

Answer 1

Answer:

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The pricing of goods or services is driven predominantly by the principles of supply and demand, with limited interference or outside influence from large conglomerates or governmental agencies called open market.

Answer 2

Answer:

An open market is an economic system with little to no barriers to free-market activity. An open market is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization, and any other regulations or practices that interfere with free-market activity.