A system of allocating resources based only on the interaction of market forces,...
An economy in which nearly all resources are allocated freely through the interplay of supply and demand largely unhampered by government rationing, price-fixing or other coercive interference.
An economy in which resource allocations, prices and other marketing decisions are primarily determined by the free market.
Occurs where demand and supply in free markets determine the allocation of resources. However, most countries impose some limitations within this economic system. See Mixed Economy, Planned Economy, State Planning, Parastatal.
A country in which most economic decisions are left up to individual consumers and firms interacting through markets. Contrasts with central planning and non-market economy.
one in which prices and quantifies are determined by supply and demand.
An economy in which scarce resources are all (or nearly all) allocated by the interplay of supply and demand in free markets, largely unhampered by government rationing, price-fixing or other coercive interference.
Term suggesting that the solution to the world's problems stems from "economics," especially power based on wealth, where the rich get richer and the poor get poorer. American Economy, body of the nation, resources of the people, national productivity or national work product are better terms.
An economy that relies on a system of interdependent market prices to allocate goods, services, and productive resources and to coordinate the diverse plans of consumers and producers, all of them following their own self — interests. View Capstone Lesson(s) that address this concept
"an economic system in which businesses and individuals decide what to produce and buy, and the market determines quantities sold and prices "
an economy characterized by freely determined prices and the free exchange of goods and services in markets.
An economic system permitting an open exchange of goods and services between producers and consumers, such as is found in the United States.
An economy that relies on a system of interdependent market prices to allocate goods, services and productive resources and to coordinate the diverse plans of consumers and producers, all of them acting according their self-interest. (Compare Command economy.)
an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
a capitalist economy
a complex adaptive system
a feeble weakling compared to a war command economy
a feeble weakling compared with a wartime command economy
a gigantic system which communicates information about the production costs of enterprises and consumer preferences
a legalized economy
an economic in which the major decisions about production and distribution of goods and services are made in a decentralized manner by individual households and business firms following their own self interest
an economic system in which goods and services are traded , with the price at which goods and services are exchanged being determined by trades that occur as a result of sellers' asking prices matching buyers' bid prices
an economic system in which supply, demand, and the price system help people make decisions and allocate resources
an economy Economics is the social science
an economy in which goods and services are traded according to their exchange values
an economy in which most allocations of resources occur as a result of
an economy that allocates labor time and resources in social production by virtue of bargaining power, with autonomous firms, not governed by a social plan
an elaborate mechanism for co-ordinating people, activities, and businesses through a system of prices and markets
a sensitive organism that requires a firm, stable democratic system in order to thrive and achieve its full potential
a term used to describe an economy where economic decisions, such as pricing
A system of decentralized economic decision making in which consumers, producers, workers, savers and investors interact in markets through the forces of demand and supply to set prices in order to answer the basic economic questions of what, how and for whom.
An economic system based on private enterprise that rests upon three basic freedoms: freedom of the consumer to choose among competing products and services, freedom of the producer to start or expand a business, and freedom of the worker to choose a job and employer.
An economic system in which individuals control all or most factors of production and make all or most production decisions.
This is an economic system that permits an open exchange of goods and services between producers and consumers.
An economic system whereby both producers and consumers play an active role in determining what is produced and sold and at what price
A system of commercial enterprise in which decisions are made on the basis of current trade factors.
A type of political economy in which there is near-total private control of land, labor and capital. Every actor has direct control over his or her own factors of production, and production decisions are essentially the sum of all private actors' decisions. The exchange value of goods is decided by the market. The state is generally quite passive in a market economy, enforcing rules and providing minimal protection to economic actors. Compare to Command economy.
a system of production and consumption where prices changes due to supply and demand changes dictate which decisions are made
an economy that allocates resources primarily through the interaction of individuals (households) and private firms
The national economy of a country that relies on market forces to determine levels of production, consumption, investment, and savings without government intervention.
An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets.
An economic system where resources are allocated and production of products determined by market forces rather than by government decree.
productive resources are owned and controlled by individuals and business firms. Decisions how resources are to be used are made by buyers and sellers in markets. The United States is primarily but not a pure market economy.
An economic system in which goods and services must be purchased from others.
An economy in which the setting of prices and allocating of resources are determined largely by the forces of supply and demand.
A decentralized system where many buyers and sellers interact.
the who, what, and how much should be produced decisions are determined by market prices
An economy where key elements in the financial and industrial sectors are owned by private corporations rather than by the state
An economic system where supply and demand determine how many of a certain item are produced and what the price is.
An economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.
An economic system where suppliers and consumers conduct business freely and where market prices are determined primarily by supply and demand.
A market economy (also called a free market economy, free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system rather than by the state in a planned economy.http://www.bartleby.com/59/18/marketeconom.html "market economy", The New Dictionary of Cultural Literacy, Third Edition. 2002. http://unabridged.merriam-webster.com/cgi-bin/unabridged?va=market%20economy "market economy", Merriam-Webster Unabridged Dictionary In a market economy businesses and consumers decide what they will produce and purchase, as opposed to a planned economy where the government decides what is to be produced and in what quantities.Gorman, Tom.