You have been the assistant manager at a small deli for the past three years, and you have made friends with many of the customers. you are thinking about opening up your own deli, and there is a great space just around the corner from your current job. you think many of the customers you have befriended will follow you to your new business. is it fair to open a shop in competition with your current employer? why or why not?

If you financially able to open a deli and it is your passion then you should be able to open one. You might get the feeling that your old employer doesn't approve of what you did, but that is because you are now a competition. You might have some customers who won't want to switch to a new place but most of them probably would be okay with. 

Lack of Incentive

Explanation:

A free-market economy is controlled by the forces of demand and supply. The government or the central authority does not interfere with the economic activities in the country. The exchange of goods and services is on the basis of a willing seller and willing buyer.

Characteristics of a free-market are

Private ownership of property, including the factors of production.Freedom of choice: Entrepreneurs are free to start and run a business of their choice. Buyers are free to buy products and services of their preferences.Profit motivation:  Self-gain or profits is the main incentive for engaging in tradeCompetition: They are many sellers and a variety of products for consumers to select.Limited government participation.