an economy in which the setting of prices and allocating of resources are determined by the forces of supply and demand In a market economy, for the most part it is the actions of private corporations and individuals, rather than government, that direct economic activity
an economic system that has the following characteristics: private ownership of goods and the factors of production, freedom of individuals to make economic choices, the use of prices to allocate resources, and a limited economic role for government
An economy in which most goods and services are produced by the private sector rather than the public sector and in which prices of goods and services adjust according to the forces of supply and demand
An economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy. an economic system in which companies are not controlled by the government but decide what they want to produce or sell, based on what they believe they can make a profit from
-an economic system based only on the interaction of market forces, such as supply and demand A true market economy is free of governmental influence, collusion and other external interference Buyers and sellers making exchanges determine prices