what is the term for the elimination of government restrictions to allow free market competition to determine or limit the actions of individuals and corporations?

Deregulation is the phrase for the removal of governmental controls to allow the free market to determine or constrain the behavior of people and corporations.

Which statement about a free market system is true?

Prices aren't decided by sellers in a free market; rather, buyers and sellers bargain in the open market. refers to the number of products that owners or manufacturers are prepared to offer at a given moment at a range of pricing.

when there is no competition and just one business controls the entire industry?

A monopoly is when one business and its product control a whole sector, there is little to no competition, and customers are forced to buy the particular products or service from the one business.

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