Free Market

A free market is a market where the price of a good or service is, in theory, determined by supply and demand, rather than by governmental regulation. A free market contrasts with a controlled market or regulated market, where price, supply or demand are subject to regulation or direct control by government. An economy composed entirely of free markets is referred to as a free-market economy.

Although in contemporary usage free markets are commonly associated with capitalism, free markets have been advocated by socialists and have been included in various different proposals for market socialism.

Read more about Free MarketOverview, Studies, Misconceptions, Criticisms

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Famous quotes containing the words market and/or free:

    A sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn’t know the market price of any single thing.
    Oscar Wilde (1854–1900)

    The most stringent protection of free speech would not protect a man in falsely shouting fire in a theater and causing a panic.
    Oliver Wendell Holmes, Jr. (1841–1935)