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 continent comprises of 12 independent states including Argentina, Bolivia, Brazil, Chile, Paraguay, Ecuador, Guyana, Peru, Suriname, Uruguay, Colombia, Venezuela and the overseas department of French Guiana.South America is ranked fourth in area and fifth in population.eru is the third largest country of South America after Argentina. The total area of Peru is 496,222 square mile. Mining, steel, petroleum, fishing, textile and tourism include the major industries of Peru. Its capital is Lima that has a population of 8.4 million.