Market economy/Definition

From Citizendium
Jump to navigation Jump to search
This article is a stub and thus not approved.
Main Article
Discussion
Related Articles  [?]
Bibliography  [?]
External Links  [?]
Citable Version  [?]
 
A definition or brief description of Market economy.

An economic system in which all decisions concerning the production and distribution of goods and services other than those concerning public goods are the result of transactions among private sector buyers and sellers.