Meaning of Free market

What is Free Market:

The free market, also known as a free market economy, is an economic system where commercial exchanges between individuals are subject to no or almost no government control or policy.

In the free market, economic agents, that is, producers of goods and services on the one hand, and consumers on the other, are those who, voluntarily and spontaneously, satisfy their needs in the free exchange of goods and services.

Thus, in the market economy, the price or value of goods is set by the laws of supply and demand, in common agreement between sellers, service providers and consumers.

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