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free market system in which decisions regarding resource allocation, production, and consumption, and price levels and competition, are made by the collective actions of individuals or organizations seeking their own advantage.
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Economy belted market
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The financial ground or the environment where the impact of exchange and business activities, rise and fall will be initially felt.
The market economy describes a system in which the exchange of goods and services are governed by the law of supply and demand that determines market prices. Private enterprise, private property and profit are considered positively there. In this context, one can then act according to its interests.
The market economy is seen by its supporters as promoting economic growth by providing a more effective response to the needs of economic agents. In the current market economies, some areas of general interest, education, health, are regularly paid by the State.
It is an economy where decisions related to investment, production and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
A market economy is an situation of economic practice where decisions regarding Manufacturing, distribution, production, Investment etc are totally based on the demand & supply ratio & prices are determined for the goods & services based on the free price system.
(No one organisation or Cartel can set the prices but is totally dependent on demand for the products or services & supply available & that pressure freely adopts the momentum of prices to fall or go high) :-)
A market economy is an economy based on the power of division of labor in which decisions regarding investment, production and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
The major defining characteristic of a market economy is that investment decisions and the allocation of producer goods are mainly made by negotiation through markets.
