Figure 5 zooms out from Figure 3 and includes more detail on the sections for markets, law and society. Markets: At the top of the pink rectangle it states what is often regarded as the purpose of a market economy, which is the allocation of resources. It then mentions the mechanism through which the market achieves the allocation of resources: Private property rights; Private enterprise; The pursuit of profit; Competition for the scarce resources; Supply and demand at fair market prices; Provide useful information for resource allocation decisions. Law: In the blue rectangular form it states that, in a market economy, a function of the law is to enable private enterprise and capital formation. The law: protects markets from market failures; protects shareholders, creditors, customers and the general public; protects private property rights and enables their transfer. Society: The bottom rectangular form for the social context of companies says. Society comprises: loan creditors; trade creditors/suppliers; customers/debtors; employees; competitors; the government; the general public; future generations; nature/earth.