Original sentence: One of the common conceptions of capitalism is the idealized notion of the "free market" where all trades take place on a voluntary basis free of coercive influence and the price is determined by supply and demand.One other objection is that similar markets also exist among hunter-gatherers and in feudalism and they are thus not unique to capitalism.Others think that active government intervention is necessary for the markets to remain free, for example in order to prevent coercive monopolies.Some claim that any intervention by government in such markets reduces the degree of capitalism
Edited sentence: According to standard capitalist theory, as explained by Adam Smith in Wealth of Nations, when individuals purchase a commodity they value it more than they value what they give in exchange for that commodity.And, as a government is commonly regarded as presiding over a capitalist system, any intervention by government that interferes with the free market is commonly regarded as being nominal, minimal, or limited.As noted, the "free market" is an idealized notion; the term is almost always used rather loosely in the context of defining capitalism rather than in an absolute sense.Central to the common conception of capitalism is the idealized notion of the "free market," where all trades take place on a voluntary basis free of coercive influence.If this were not the case, then they would not make the trade.Influential on the prices buyers are willing to pay is the supply and demand of the commodity in question.It is through the mechanism of a free market that prices are determined, as a result of actual trades that occur as a result of price agreement between buyers and sellers.This notion is the basis of the concept of mutually-beneficial trade where it is held that both sides tend to benefit by voluntary exchange.When upward adustments on the price the buyer is willing to pay coincide with the downward adjustments on the price at which the seller is willing to part with his commodity a trade occurs and price is determined