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Definitions from the Web

Free-Market

Description

In economics, the term 'free-market' refers to an economic system where prices for goods and services are determined by the forces of supply and demand, without government intervention or regulation. It is a system characterized by voluntary exchanges between buyers and sellers in a competitive marketplace.

Sample Sentences

• The country embraced a free-market economy, allowing businesses to operate without excessive regulations.
• Supporters argue that a free-market system promotes innovation and economic growth.
• Although critics claim that a free-market approach can lead to income inequality, others believe it provides opportunities for individual success.

Related Products

Explore the following books relating to the concept of a free-market economy:

• Free-Market Economics: A Basic Reader
• Capitalism: A Ghost Story
• Free-Market Philosophy: An Introduction