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1.1.6 Free market economies, mixed economy and command economy

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Question 3

In a major restructuring of its state-directed agricultural sector, the government of Uzbekistan has abolished mandatory crop quotas, enabling independent farmers to decide which crops to cultivate and how to distribute their produce. Supporters of free-market principles argue that giving farmers autonomy will incentivize productivity gains, drive down consumer food prices, and foster local innovation.

With reference to the information provided, explain one advantage of a free market economy.

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1.1.6 Free market economies, mixed economy and command economy Questions

  1. A Level
  2. /Economics
  3. /1.1.6 Free market economies, mixed economy and command economy