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  • Free market economy is a free market system in which decisions regarding resource allocation,production, and consumption, and price levels and competition, are made by the collective actions of individuals or organizations seeking their own advantage.
  • In all market economies, however, freedom of the markets is limited and governments intervene occasionally to encourage or dampen demand or to promote competition to thwart the emergence of monopolies. Also called free economy, free market, or free market economy.
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Q: What terms are associated with a market economy?
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