How many markets regulate themselves?

Competitions (regulating) & self-interest (motivating)

What are the advantages of a free market economy?

Efficient – freedom – growth – lot of diff. products

What are pros/cons of a command economy?

Pro: Jobs / solve problems quickly / strong military con: poor quality / no incentives / lack of consumer G/S

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Econ Chapter 2

Question	Answer
How do free markets operate?	They exchange G/S for money
How many markets regulate themselves?	Competitions (regulating) & self-interest (motivating)
What are the advantages of a free market economy?	Efficient – freedom – growth – lot of diff. products
What are pros/cons of a command economy?	Pro: Jobs / solve problems quickly / strong military con: poor quality / no incentives / lack of consumer G/S