which is the reason why, in a free-market society, the government passes laws against theft, coercion, and fraud?

Answers

Answer 1

The reason is to protect freedom of choice.

Answer 2

A free market system is used in economics to determine the prices for goods and services. These prices are set by consumers and the market so they can vary based on time of year or product. The laws within the market in a free market system are not controlled by the government but controlled by supply and demand. Due the consumers controlling the market prices, it's important for the government to pass laws on theft, coercion and fraud because even though the market isn't heavily controlled by the government, there is still laws that have to be followed. The goods and services are not free and are not to be stolen just because.

Related Questions

The two primary factors affecting an entrepreneur's choice of legal ownership for a venture are ________ and ________.

Answers

The two primary factors affecting an entrepreneur choice of legal ownership for a venture are TAXES AND LEGAL LIABILITY.
The type of business that an entrepreneur establish will determine the type and the amount of tax that it will be required to pay. The legal liability of the entrepreneur determines the extent to which he can be liable in case he finds himself in a financial mess. The entrepreneur should try and minimize the impacts of these two factors.

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