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.
The term Latin America is commonly used to refer to the portion of North America south of the United States, all of South America, and some of the Carribean.ore precisely, it refers to those countries in North and South America (including the islands of the Caribbean) where Spanish or Portugese is spoken, and therefore excludes a number of countries such as Jamaica and Surinam. See the Wikipedia entry Latin America for a complete list of these countries.