[M]ost successful business have to produce good products, sell them at market prices, pay their employees market wages, and treat their customers courteously . . . when there are several butcher shops in a community, any butcher who is rude or tries to see inferior meat at unreasonable prices soon loses business and income to other butcher shops. —”A System of Markets,” U.S. Department of State
What kind of economy is described in the quotation above?
a.
state-operated
b.
free market
c.
globally controlled
d.
post-industrial