free market economy

/Tag: free market economy

June 2019

AS A Level Business: Benefits And Drawbacks Of A Free Market Economy

By |2019-08-15T09:04:39+02:00June 8th, 2019|Cambridge AS A Level Business Studies, Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills|

Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Free Market Economy: Advantages and disadvantages 

  • Having examined the features of a Free Market Economy
  • We will now examine the advantages and disadvantages of this economic system
  • While it might not be said explicitly these benefits contrast with those of a […]
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AS A Level: Free Market Economy

By |2019-06-08T11:58:45+02:00June 8th, 2019|Cambridge AS A Level Business Studies, Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills|

Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Free Market Economy  

  • As has been said because resources are limited while needs and wants are unlimited
  • Society faces an economic problem of how to allocate its scarce resources
  • It has to answer three basic questions:
    • What to produce
    • How to […]
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December 2015

Free Market Economy

By |2019-06-08T10:40:57+02:00December 7th, 2015|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Communication: Free Market Economy

Characteristics/Features

• All the resources (factors of production) are owned by private individuals.
• Profit is the main motive of all business.
• There is little or no government interference in business activities.
• Producers are free to produce how much they want, for whomever they want.
• Consumers are free […]

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