ENTREPRENEURSHIP

Detailed explanation-1: -A free market is one where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention.

Detailed explanation-2: -A transaction in which both suppliers and consumers believe they benefit. Another name for market economy, also known as capitalism, where people are free to become entrepreneurs and own and operate an enterprise (business). Another name for the cash and goods a business owns. Another name for a free enterprise system.

Detailed explanation-3: -Voluntary exchange is important because it lets everyone pursue their interest. It promotes economic activity and growth. It also allocates resources in a way that will benefit society. Thus, voluntary exchange is essential for a free market economy.

Detailed explanation-4: -Voluntary exchange is the act of buyers and sellers freely and willingly engaging in market transactions. Moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred.