The advantages of a free market economy are for example - supply and demand A free market economy allows competition. Without competition, prices would be a lot higher. This is due to the fact that companies compete for more customers.
About South America: South America is the world's fourth largest continent, and the fifth most populous. The continent covers an area of 6,890,000 square miles and comprises a population of 420,458,044 inhabitants, as of 2016. The Pacific Ocean lies to the west of South America and the Atlantic Ocean to its east.
There are two landlocked countries in South America: Paraguay and Bolivia are located in the interior of the continent and have neither access to the Atlantic Ocean nor to the Pacific Ocean. More South America Facts. 11. History: Evidence of human life in South America dates back to 9000BC. One of the earliest South American civilisations are recorded in Peru. South America was colonised from the late 15th century by foreign conquistadores mainly from Spain and Portugal, but also from the Dutch, British and French.