free market

Free market - Wikipedia, the free encyclopedia

As an ideal, a free market is a term for an idealized market system, where all economic decisions to by sell or produce are voluntary. In practice, a free market for a good or service exists when
  • individuals or firms are free to enter the market (i.e. not prohibited by law)
  • the prices in the market are a result of supply and demand.

If a country's economy is made of mostly free markets, it is said to have a market economy.

Industries that are "more free" include the food industry, transportation industry, technology industry, retail industry, textile industry

Industries that are "less free" include:
financial industry, self regulating professions (law, medicine, engineering), utilities industry

Related issues: capitalism, market economy, monopoly, oligopoly, monopsony,market power, competition regulator, private sector, public sector.laissez-faire

Position: Free Markets create Poverty and Economic Injustice.

Free Markets increase Poverty and Economic Injustice.

Position: Free Markets are the best path to Economic Development.

Free Markets are the best path to Economic Development.

Free Market - Wikipedia