Multiple choice

Many times we read a term ‘Free Market’ in newspapers. What does it mean? (Pick the correct option's):(A) It is a market where pricing is driven by the laws of supply and demand. (B) In free market things are available without restraints of the government. (C) In such markets goods are free from extraneous influences such as tariff or quotas.

  1. Only (A)

  2. Only (B)

  3. Only (C)

  4. All (A), (B) and (C)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A free market is characterized by price determination through supply and demand, minimal government intervention, and the absence of trade barriers like tariffs or quotas. All three statements correctly describe its features.

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