The free market is an economic system based on competition, with little or no government interference.
 | | Free Market | | The free market is an economic system based on supply and demand with little or no government control. It is a summary description of all voluntary exchanges that take place in a given economic environment. Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Based on its political and legal rules, a country's free market economy may range between very large or entirely black market. | | Read More » | | Market Economy | | A market economy is a system in which economic decisions and pricing are guided by the interactions of citizens and businesses. | | Read More » | | | Laissez-Faire | | Laissez-faire is an economic theory from the 18th century that opposed any government intervention in business affairs and translates as "leave alone". | | Read More » | | | Capitalism | | Capitalism is an economic system whereby monetary goods are owned by individuals or companies. The purest form of capitalism is free market or laissez-faire capitalism. | | Read More » | | | Socialism | | Socialism is an economic and political system based on public or collective ownership of the means of production, which emphasizes equality rather than achievement. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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