Market Economy

Free market

The notion of a "free market" where all economic decisions regarding transfers of money, goods, and services take place on a voluntary basis, free of coercive influence

The ideal free market system does not require coercion

essential characteristic of capitalism

profits

price

monopsony

a

market structure

availability of goods on the market

allows the buyer to influence the price

only one buyer

agent

supplier

middleman

acting force

representative

partner

monopoly

market structure

product

competition

services

product
product

provider

impact on market value

perfectcompetition

the price of goods on the market is the same