Financial Word of the Month – Free Market

Avatar Wekonomist Team | November 9, 2019

Definition Dede Says:

Free Market – 

The free market is an economic system based on supply and demand with little or no government control. It is a summary description of all voluntary exchanges that take place in a given economic environment. Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Based on its political and legal rules, a country’s free market economy may range between very large or entirely black market.