Lightly-Regulated Marketplace
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An Lightly-Regulated Marketplace is a marketplace with no regulations.
- AKA: Free Market.
- Context:
- In which Supply and Demand are free from any intervention by a government, price-setting monopoly, or other social authority.
- It can (typically) require an Authority Figure to punish cheaters.
- Example(s):
- Counter-Example(s):
- a State of Nature (like a children's playground without adult supervision).
- See: Regulated Marketplace, Free Market Ideology, Profit Sharing, Market Economy, Sales Management, Consumer, Supply and Demand, Regulated Market, Price Fixing, Capitalism, Free-Market Anarchism, Market Socialism.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/free_market Retrieved:2015-12-1.
- A free market is a market economy system in which the prices for goods and services are set freely by consent between vendors and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. A free market contrasts with a regulated market, in which government intervenes in supply and demand through non-market methods such as laws creating barriers to market entry or price fixing. In a free-market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy, and it typically entails support for highly competitive markets and private ownership of productive enterprises.
Although free markets are commonly associated with capitalism in contemporary usage and popular culture, free markets have also been advocated by free-market anarchists, market socialists, and some proponents of cooperatives and advocates of profit sharing.
- A free market is a market economy system in which the prices for goods and services are set freely by consent between vendors and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. A free market contrasts with a regulated market, in which government intervenes in supply and demand through non-market methods such as laws creating barriers to market entry or price fixing. In a free-market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy, and it typically entails support for highly competitive markets and private ownership of productive enterprises.