In the context of any country, which of the following is the correct description of the Social Market Economy?
1
It is a concept based on the notion that a relationship between two people is created through a process of cost-benefit analysis.
2
It is a platform for listing social enterprise, voluntary and welfare organisations so that they can raise capital.
3
It is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
4
None of the above