Question

why are there no pure free market nations? Please include sources.

Answer 1

Free market:Free market is a system in which thier is no intervention of goverment or economy is self regulatory by price of goods and services.Thier is a complete absence of goverment .

There are no pure free market nation because of following reasons-

*Goverment regulates market by forming laws and regulation so for regulation of market goverment intervention are require.

*Every market can not do production of each and every products by thier own thie definately need a backbone of goverment to perform the function.

*Market's main objective is profit maximisation where as goverment main obejctive is social welfare so for the welfare of society goverment intervention is requires because no market will function for the social objectives.

*In some areas like health ,security,education,justification goverment presence is required.

*Pure market moreover a theoretically aspects because to be a free market no goverment presence is required .