In your own words describe or
In your own words describe or define (250 words) FreeMarket Economics: Uber, Airbnb, & Feastly vs GovernmentRegulation – Learn Liberty and The benefits and costs of USenvironmental laws
Free market economics – Uber, Airbnb& Feastly vs Government regulation- Learn Liberty and thebenefits and costs of US Environmental Laws
Free market economy refers to suchan economic system where all the factors like investment,production and distribution are influenced by the laws of supplyand demand only and the government regulations in such economieswould be the least. Uber, Airbnb and Feastly are among such firmsthat sprang out with the advent of free market mechanisms all overthe globe. The major feature of such business are that they do notrequire specific investment costs for infrastructure as they canoperate with minimlal infrastructural establishments. Uber hasfocus on travel and eatables whereas airbnb focus on travel aloneand Feastly focus on eatables alone.
As far as the US economy isconcerned, statistics shows that the environmental benefits havealways been dominant over the costs, the reason being the dominantfree market features. With dominant free market features, thegovernment regulation has been lesser which has reduced the costsof environmental laws to be lesser. Moreover, the laws have beenconstructed so as to suite the exixting marketing mechanism. Butths dominance kf free market firms like Uber, Airbnd would meanthat the environment would be affected badly. Since the privateparticipation is dominant in the US economy, it has been beneficialto the fiscal authorities in reducing the costs over thesustainability of the environment.