What is the essence of the market economy?

The essence of a market economy is that most decisions about the production and distribution of goods and services are made via the market system, in contrast to a command economy, where such decision are made by a state bureaucracy. read more

The essence, types and structure of consumer economic behavior Any economic system to some extent meets the needs of members of society - this is the meaning of its existence. But there is also an inverse relationship: the uninterrupted functioning of the economic system presupposes the existence of a "human" component, which is defined as economic behavior. read more

A market economy is when the laws of supply and demand control the production of goods and services. There are 4 pros and 4 cons. read more