Free market - advantages and disadvantages

Advantages	disadvantages
Rational self interest in market economies are also encouraged (allow freedom for people to do what they want, make what they want, and, sell what they want -to a certain extent-, this can also be described as being able to decide what is going to be produced , how it is going to be produced and for whom it is going to be produced). the government tries to stay out of the way of businesses- Although the government sets certain standards businesses must follow- for the most part businesses can do as they please.	corruption
Consumers have wider choice	Lacks social responsibility
no provision of public goods
Best product at the lowest price wins.
market economy encourage competitive environment, ( competition does encourage innovation, and the free market economy has produced well over a century of dizzying technical progress. At the same time productivity has also increased at a phenomenal rate. competition is one of the basic reasons why there are generally so many different varieties of goods for consumers to choose from .
there is a great variety of goods and services for consumers