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What is an open market economy?

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An open market is an economic system with no barriers to free market activity such as tariffs, taxes, licensing requirements or subsidies. read more

An open market is an economic system with no barriers to free market activity. An open market is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization and any other regulations or practices that interfere with a naturally functioning free market. read more

An open market economy is a system of national trade wherein buyers and sellers are free to engage in commerce without government intervention. This sort of system is also frequently referred to as a “free market.” In an open market economy, the government takes a largely hands-off approach to common transactions. read more

Definition of open market: Where price of goods and services is governed by the forces of demand and supply, and not by manipulation by cartels or government policies. See also free market. read more

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Circular Flow Diagram For Open Market Economy Choice Image ...
Source: ccuart.org

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