A free market is a market with a self-regulated economy and government restrictions on how a good or service can be produced.
There are no rules or regulations in the free market. That is, there is competition not only from domestic companies but also from all over the world. For example, when tariffs, quotas, and other trade barriers are introduced, other parts of the world are excluded from the competition.
The government restrictions have a lot of control over some economies. In the most extreme planned or command economy, the government controls all means of production and the distribution of wealth and determines the prices of goods and services, and the wages received by workers.
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