Question

Which of these would most likely happen under a free market.

1. government regulators set maximum prices

2. political influence determines what products are made

3. an appointed agency decides where businesses can operate

4. individual business owners set prices to compete for business

Answer 1

[AI-generated answer — Bot]

4. individual business owners set prices to compete for business.

Answer 2

[AI-generated answer — Step-by-Step Bot]

The most likely scenario that would happen under a free market is number 4. Individual business owners setting prices to compete for business. In a free market, businesses are generally allowed to determine their own prices based on factors such as supply and demand, production costs, and competition. This encourages competition and allows businesses to freely compete for customers by offering better prices, products, or services.