JAMB - Economics (2022 - No. 46)
Producers operating in a free market economy are more efficient as a result of
the existence of competition
the very few number of participants
the commitment of the shareholders
government regulation of their activities
Erläuterung
In a free market economy, there is efficiency as a result of competition among producers. It also known as capitalist economy in which the price of the goods are fixed by price mechanism.