Select all the items that describe a free market economy. limited selection of goods and services freedom for consumers and producers competition between businesses distribution by price motivated by self-interest

1) Freedom for consumers and producers

2) Competition between businesses

3) distribution by price

4) motivated by self-interest

I believe the answer is:

1) Freedom for consumers and producers

2) Competition between businesses

3) distribution by price

4) motivated by self-interest

In a free market economy, Private sectors have larger influence in determining the outcome of the economy compared to the Government.

This mean that both consumers and producers have the freedom to produce and consume whatever they want, government would not be interfering with business competition, and the production that happen would be motivated by desire to obtain profit.