Free Market Economy
A free market economy is an economic
system where the prices for goods and services are set freely by consent
between vendors and consumers, in which the laws and forces of supply and
demand are free from any intervention by a government, price-setting monopoly,
or other authority. Some pros of a free market economy is there are lots of goods and services to choose from and also there is innovation and progress. Some cons are that there is greed and lots of pollution. If you didn't know Australia has adopted a free market economy and In Australia
the decisions are freely set between the consumers and vendors. This is what
makes Australia a free market system.