In the ______ economy, instead of buying or renting in the usual ways, we share goods and services at low cost and free of charge.

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12-09-2022
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In the ______ economy, instead of buying or renting in the usual ways, we share goods and services at low cost and free of charge.

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tutorconsortium215 tutorconsortium215 · Answer 1 · 2022-09-16T06:18:28+02:00

In the sharing economy, instead of buying or renting in the usual ways, we share goods and services at low cost and free of charge.

Supply and demand are the foundation of the free market, which has little to no governmental intervention. It is a concise description of every voluntary exchange that occurs in a specific economic setting. Free markets are a spontaneous and decentralized series of arrangements by which people make economic decisions. Depending on its political and legal system, a nation's free market economy may be of varying size or altogether outlawed. Laissez-faire capitalism is sometimes referred to as the "free market." The "free market" is typically used to refer to an economy with unrestricted competition and exclusively private exchanges between buyers and sellers. Any voluntary economic activity should be included in a broader definition, provided that it is not governed by coercive central authorities.

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