MARKET ECONOMY

WHAT IS A MARKET ECONOMY?

• Completely ran by the people
• Based around supply and demand
• No government control
• Normally have freedom of choice
• Being able to control your business

MARKET ECON.CONT

• Market economy runs on a free pricing system
• Market economies still work with governement to be sure food and services are provided
• There are many forms of market socialism like employee owned enterprises based around self management
• Free price market are when the people making the good sets the price at which one could by based on supply and demand
• Unlike most mixed economy governements have little no control on pricing in a market economy.

ADAM SMITH

• Talked about having no government control
• Used a idea called a invisible hand

CONCLUSION