Question

which of the following best describes free markets? market forces are self - regulating, i.e. the market corrects itself. private individuals are able to own the means of production. markets are dictated by market forces, i.e. supply and demand. individuals are free to choose how they spend their time and resources.

Explanation:

All the options are key characteristics of free markets: self-regulation, private ownership of production means, supply/demand dictation, and individual choice over time/resources. Collectively, they define free market systems.

Answer:

• Market forces are self-regulating, i.e. the market corrects itself.
• Private individuals are able to own the means of production.
• Markets are dictated by market forces, i.e. supply and demand.
• Individuals are free to choose how they spend their time and resources.