Ad
related to: free market definition
Search results
Results From The WOW.Com Content Network
A free market does not directly require the existence of competition; however, it does require a framework that freely allows new market entrants. Hence, competition in a free market is a consequence of the conditions of a free market, including that market participants not be obstructed from following their profit motive.
Sometimes a free market economy is defined as one in which the government has little, if any, control over the marketplace. Under this definition a market with any significant amount of government ...
Market freedom: degree of autonomy enjoyed by the participants in price determination and competition; Market regulation: restrictions on marketability and market freedom, done by tradition, convention, law, voluntary action; Trade networks are very old and in this picture the blue line shows the trade network of the Radhanites, c. 870 CE.
Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world.
Democratic capitalism, also referred to as market democracy, is a political and economic system that integrates resource allocation by marginal productivity (synonymous with free-market capitalism), with policies of resource allocation by social entitlement. [1] The policies which characterise the system are enacted by democratic governments. [1]
The social market economic model, sometimes called Rhine capitalism, is based upon the idea of realizing the benefits of a free-market economy, especially economic performance and high supply of goods while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and the socially harmful effects of ...
Free entry is usually accompanied by free exit, under which condition firms that are incurring losses (such as would happen if there are too many firms producing the product so that each is producing too little to be at its minimum efficient scale) can readily leave the market. However, exiting a market may involve abandonment costs.
The marketplace of ideas is a rationale for freedom of expression based on an analogy to the economic concept of a free market.The marketplace of ideas holds that the truth will emerge from the competition of ideas in free, transparent public discourse and concludes that ideas and ideologies will be culled according to their superiority or inferiority and widespread acceptance among the ...