A free market economy relies heavily on which of the following to succeed?

A) availability of gold and silver
B) competition
C) the lack of competition
D) cash-only transactions

Free Market Economy

An economic system based on supply and demand with minimal government intervention.

Competition

A situation in which entities, individuals, or groups strive against each other to achieve a desired objective, often leading to innovation and improvement.

Cash-Only Transactions

Financial exchanges where payment is made using paper money or coins, without the involvement of digital or credit mechanisms.