In two to three sentences, describe three aspects of a free market economy.

The market economy is an economy type in which the private sector controls all the businesses in the particular economy. The government doesn't have any influence on the production of goods and services. The production of goods is actually determined by the consumers, as they are the ones that buy the products, and they choose the products that have the highest quality with the lowest price, or rather a balance between the two.

monarchy doesn’t have to have the hereditary element. there have been elective monarchies in the past where you choose your king-for-life and when he dies elect someone else for the job.