Market Economy

AKA - Free Enterprise

What is a Market Economy, you say?

A Market Economy is an economy of a country where all factors of production are privately owned and economic decisions are made by the consumers.
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A Well Known Country

The United States is a country that runs on a Market Economy. The U.S. has been known to be the country with the lowest inflation rates, unemployment rates, and has the most efficient economy in the world.
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Importance

In a Market Economy, land, labor, capital, and entrepreneurs are owned by the consumers, meaning the resources that are used, work force that made the products, the tools or buildings that are used, and leadership used to make a product.


This economy allows for competition between businesses or companies, such as Nike and ADIDAS. Businesses compete in order to sell their goods to consumers at the lowest price possible.

Market Economy - [Official Music Video]

Citations

*http://easybib.com/

*"Economy Watch - Follow The Money." US Market Economy. Economy Watch, 13 Oct. 2010. Web. 13 Dec. 2014. <http://www.economywatch.com/market-economy/us-market-economy.html>.

*Link to other Citations (https://docs.google.com/a/student.ucps.k12.nc.us/document/d/1BWH-Fl4dtLBb4C1r65HqVZm94MVOFGQs0JXe1B8wi8E/edit)