market economies
Supply-demand economies
Market economies are economic systems where prices, production, and distribution of goods are determined primarily by supply and demand rather than central planning.
Private individuals and businesses own property and make most economic decisions.
The term often contrasts with command economies or planned economies: Market economies tend to reward innovation.
Most modern economies are mixed, combining market mechanisms with some government intervention.
- business cyclesPeriodic economic expansions and contractions
- boom and bustRecurring economic extremes
- trading floorExchange transaction area
- capitalismPrivate profit-based economy
- supplyFurnish or stock
demand · privatization · trade · laissez-faire · price signals · competition · globalization · investment · vendor stalls · barter systems · trade networks · monetary systems · consumerism · deregulation · entrepreneurship · small business · productivity · redistribution
- economic historyIndustrial Revolution, trade routes, Great Depression, gold standard, Silk Road
market economiesplanned economies
State-controlled resource allocation
command economies · socialist economies · central planning · dirigisme · autarky
market, economy, markets, marketed, marketing, marketer, marketers, marketplace, marketable