our padlet by Vulcan Crafter https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix Made with fortitude en-us 2021-07-19 09:38:06 UTC 2021-07-26 09:53:08 UTC hello@padlet.com Advantages https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654597297 1) The citizens own all the business which leads to a lot of competition.
2) Due to this competition in earning money, innovation and creativity are encouraged.
3) A huge variety of goods and services are available because businesses are trying to differentiate themselves.
4) Based on the demand of the company's product they can decide a particular price for their product. The companies get the liberty to set a price for their products.]]> 2021-07-19 09:41:00 UTC https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654597297 Disadvantages vardaansaraogi2007 https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654598098 1) Disparity in wealth exists in market economies because wealth tends to generate wealth. In other words, it's easier for wealthy individuals to become wealthier than it is for the poor to become wealthy.
2)Poor working conditions can result due to a lack of government regulations because health and safety cost money, thus reducing profits
3)Questionable priorities can result when the overriding decisions regarding production are profit-motivated rather than serving the needs of the people in society.
 


]]> 2021-07-19 09:42:19 UTC https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654598098 The advantages and disadvantages of a free market economy https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654605845 - Radha and Vardaan]]> 2021-07-19 09:56:44 UTC https://padlet.com/vardaansaraogi2007/mogxmc5raiin4bix/wish/1654605845