Psychology Dictionary of ArgumentsHome | |||
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Market Economy - Psychology Dictionary of Arguments | |||
Market economy:; A market economy is an economic system where decisions regarding production, investment, and distribution are primarily guided by supply and demand. Private individuals and businesses drive the economy, engaging in trade and setting prices based on competition. Government intervention is limited, allowing for free exchange and fostering innovation and efficiency. See also Supply, Demand, Markets, Interventions, Interventionism, Trade, Competition._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
Author | Item | More concepts for author | |
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Sandel, Michael | Market Economy | Sandel, Michael | |
Ed. Martin Schulz, access date 2024-04-27 |