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.
South America is situated entirely in the Western Hemisphere and mostly in the Southern Hemisphere with a small portion in the Northern Hemisphere. The continent is surrounded by North America in the northwest, Pacific Ocean on the west and on the north and east by the Atlantic Ocean. South America ranks fourth in area (after Asia, Africa, and North America) and fifth in population (after Asia, Africa, Europe, and North America). Brazil, Colombia, Ecuador, Peru, Argentina, Chile, olivia, Uraguay, Paraguay, among others, as well as off shore islands, are countries in South America.