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Question
Which of these is not a free market economy?
Which of these is not a free market economy?
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Solution
The correct option is A China
- The free market is a summary description of all voluntary exchanges that take place in a given economic environment. Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Based on its political and legal rules, a country’s free market economy may range between very large or entirely black market.
- China is one of the countries which is not considered in free market economy.
- The free market is a summary description of all voluntary exchanges that take place in a given economic environment. Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Based on its political and legal rules, a country’s free market economy may range between very large or entirely black market.
- China is one of the countries which is not considered in free market economy.
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