Competition by companies to obtain your business helps to create products that consumers want to buy and this is one of the fundamentals of a market economy.
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Some philosophers have advocated for a laissez-faire system of economy where the government retains a hands off approach to regulating the economy, however realistically, in a system using the market economy, the government does play some role in regulation.
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A free market economy encourages individuals to start their own businesses by providing government subsidized low-interest small business loans to assist with startup costs.
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