A Free Market is a market economy in which there is no economic intervention by a government or any other authority. A free market is opposite of a Controlled
Market in which the government regulates how goods and services may be used or distributed. The definition of Free Market varies among political philosophers and social economic ideas. In regulated or controlled Markets, the government regulates prices and supplies directly or indirectly which as stated by the theory of Free Market results in the markets to be less efficient. The economic systems include Laissez-faire economics and Socialist economics.
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