What do we mean by free market?

What Is a Free Market? The free market is an economic system

based on supply and demand with little or no government
control. It is a summary description of all voluntary exchanges
that take place in a given economic environment.
example
Economists define a free market as one where products are exchanged by a willing buyer
and seller. Purchasing groceries at a given price set by the farm grower is a good
example of economic exchange. Paying a worker a monthly salary is another instance where
an economic exchange
Why free market is good?
It contributes to economic growth and transparency. It ensures
competitive markets. Consumers' voices are heard in that their decisions
determine what products or services are in demand. Supply and demand
create competition, which helps ensure that the best goods or services are
provided to consumers at a lower price.
What are the pros and cons of a free market economy?
Benefits of a market economy include increased
efficiency, production, and innovation. Disadvantages
include monopolies, no government intervention, poor
working conditions, and unemployment
benefits