Questions what is the main features of the socialist economy?

Advantages of free market competition?

Key words: efficient allocation, market share, innovation
Customers have numerous advantages of market competition.
1) Upgradation
You tend to regularly upgrade your product as well as innovate so that you stay ahead of competition.
2) Adding more value
The advantage of having market competition is that companies are always adding value to their product.
3) More options for customers
Customers get many more options when competition is strong in the market.
4) Productivity
Businesses in general tend to be more productive and efficient when there is competition in the market.
5) Focus on sales and customers
The best advantage of market competition is that it ensures that the company is focused on sales and in turn, on its customers.

16. 
    Ways of transition to a market economy?
    

Key words: developed countries, developing countries, former socialist countries
The transition to a market economy would require state intervention alongside market liberalization, privatization and deregulation. Rationing of essential consumer goods, trade quotas and tariffs and an active monetary policy to ensure that there was sufficient liquidity to maintain commerce might be needed.

17. 
    Liberalization of the economy?
    

Key words: monopoly, distribution of resources, transactional contracts
Economic liberalization is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities. In politics, the doctrine is associated with classical liberalism and neoliberalism. Liberalization in short is "the removal of controls" in order to encourage economic development.

18. 
    Demonopolizing the economy and creating a competitive environment? Key words: equal opportunities, foreign competitors, pricing Demonopolization means to break up an existing monopoly. It is often used in the context of breaking up a government-run monopoly.
    

19.