Market Economy

This refers to an economy where the market forces of supply and demand govern what items are produced and at what price they are sold.

In a totally free market economy, societal benefits typically do not feature in decisions on how goods and services are produced or distributed. This approach is also known as ‘Laissez Faire’ (from the French for ‘Let It Be’).

Market Economy is a term normally found in macro economics and financial management.

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