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.
Latin America is a region that covers more than entire South America, though there are some who remain confused between South America and Latin America thinking Latin America to be a synonym of South America.However, there are differences between the two areas that will be highlighted in this article.atin America. Latin America is a word coined to refer to countries that together make up a region that belongs to both the Americas, where at least one of the ancient romance languages is spoken. These languages are Spanish, Portuguese and French.