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Ethics in Business
write about the free market by covering these points:
1- There are numerous buyers and sellers, none of whom has a substantial share of the market
2- All buyers and sellers can freely and immediately enter or leave the market
3- every buyer and seller has full and perfect knowledge of what every other buyer and seller is doing including knowledge of the price quantities and quality of all goods being bought and sold
4- The goods being sold in the market are so similar to each other that no one cares from whom each buys or sells.
5- The cost and benefit of producing or using the goods being exchanged or borne entirely by those buying or selling the goods and not by any other external parties.
6- All buyers and sellers are utility maximizers : Each tries to get as much as possible for as little as possible.
7- No external parties (such as the government ) regulate the price quantity or quality of any of the goods being bought and sold in the market