7.the body of existing or potential buyers for specific goods or services:the health-food market. 8.a region in which goods and services are bought or used:the foreign market. 9.an economic situation in which supply and demand interact through the activity of buyers and sellers:market forces...
market economy- an economy that relies chiefly on market forces to allocate goods and resources and to determine prices free enterprise,laissez-faire economy,private enterprise capitalism,capitalist economy- an economic system based on private ownership of capital ...
: the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices producing goods for market rather than for consumption market 2 of 2 verb marketed; marketing; markets transitive verb 1 : to expose for sale in a market 2 : ...
Market Economic System What is a market system in economics definition? A market system is a network of entities that come together to trade goods and services. What Is a Market in Economics? A market in economics can be a physical location or an intangible space where trade occurs....
To understand this market economy definition, it is important to define the key terms "demand" and "supply." Supply denotes the quantity of goods delivered to the market, while demand designates the number of goods and services consumers want. Amarket economic systemis always fluctuating due to...
There is no governmental interference ormonopolyprice setting in a free market system. The exchange of goods and services between suppliers and consumers is voluntary, and all the business arrangements are decentralized. Consumers are free to make their economic and financial decisions, whereas ...
The meaning of FREE MARKET is an economic system in which prices are based on competition among private businesses and are not controlled or regulated by a government : a market operating by free competition —often hyphenated when used before another no
Economic Definition of Offline Version:PDF Termmarket-oriented economyDefinition: A mixed economy that relies heavily on markets to answer the three basic questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, market-oriented economy is ...
Ideally, the command system takes into consideration the best interest of its populace. Market Economic System A market economic system or capitalist economy involves very less government interference and incorporates the principles of the free market. There is a scant exercise of control over resources...
Market dynamics are the factors that change the supply and demand curves. They form the basis of many economic models and theories. Because market dynamics impact the supply and demand curves, policymakers aim to determine the best way to use various financial tools to stimulate or cool down an...