Free Market: Definition, Advantages & Examples Video


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What is a free market?

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1. What right does a seller have in a free market system when demand for a product goes up?

2. What are some of the advantages of owning a business in a free market system?

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About This Quiz & Worksheet

If you review these assessments, you will be asked questions on the benefits of a free market system and how one is created to help you gain a better understanding of free markets.

Quiz & Worksheet Goals

These assessment tools can help check your understanding of:

  • The definition of free market
  • Rights sellers have in a free market
  • The benefits of a free market system
  • Examples of free markets

Skills Practiced

  • Information recall - access the knowledge you have gained regarding a free market system
  • Problem solving - use acquired knowledge to solve economic practice problems
  • Knowledge application - use your knowledge to answer questions about rights sellers have in a free market system

Additional Learning

Refer to the lesson entitled Free Market: Definition, Advantages & Examples for more detail on this subject. You can also use this lesson to meet the following objectives:

  • Identify the advantages of a free market
  • Define a free market system
  • Find examples of a free market
  • Learn about the roles a free market plays regarding consumers