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Mr. Vinod Jetley has given a beautiful answer of this question there is nothing to add more
A system of allocating resources based only on the interaction of market forces, such as supply and demand. A true market economy is free of governmental influence, collusion and other external interference.
For a great take on the market economy watch the2 minute video:
https://www.youtube.com/watch?v=OcKTjBDIgview.
The latest approach to learning about business terms.is refreshing.
The free market economy, the economy, as well as the so-called capitalist economy is the economic system of classical liberalism that are an essential component of economic liberalism in which, and the idea of a free economy is the lack of state intervention in economic activities and leave the market adjusts itself. And liberalism depends primarily on the idea of individual freedom, and to learn the idea of a free economy or the market economy in a positive way will definition is that the individual is born free, and therefore it has the freedom to carry out any economic activity. The definition of a market economy are negative it is that the state not do any economic activity can an individual or individuals to do a set.
And is based on the private ownership of the means of production and individual initiative, and is subject to the interaction of supply and demand within the market. The market economy is a supply and demand economy and free competition and the liberalization of prices of any limitation except as imposed by free competition is monopolistic. And it depends mainly on the private property of individuals and institutions and capital. However, the market economy does not mean in any way the absence of the public sector and the state's role in regulating life Alaguetsadah.oukd has re-evaluated the market economy after the severe global financial crisis in late 2008.
A market economy is an economy in which decisions regarding investment, production, and distribution are based on market determined supply and demand,[1] and prices of goods and services are determined in a free price system.[2] The major defining characteristic of a market economy is that investment decisions and the allocation of producer goods are mainly made by cooperative negotiation through markets.[3] This is contrasted with a so called planned economy, where investment and production decisions are embodied in a plan of production established by a state or other body with control over economic resources.
Thanks for the invitation
Agree with my colleagues
Agree with Mr. Vinod Answer <<<<<<<<<<<<
The system that control decisions for investment, production, and distribution are based on market determined supply and demand, and the pricing of goods and services is market economy .
it is very bad globally right now due to the oil low price , and most people cut down their spending and may be it will take longer cycle to recover.
AGREE WITH ALL ANSWERS .......................
