Types
In economics, market forms are studied. These look at the impacts of a particular form on larger markets, rather than technical characteristics of how bidders and sellers interact.
Heavy reliance on many interacting market systems and forms is a feature of capitalism, and advocates of socialism often criticize market features. Competition is the regulatory mechanism of the market system. This article does not discuss the political impact of any particular system nor applications of a particular mechanism to any particular problem in real life. For more on specific types of real-life markets, see commodity markets, insurance markets, bond markets, energy markets, flea markets, debt markets, stock markets, online auctions, media exchange markets, real estate market, each of which is explained in its own article with features of its application, referring to market systems as such if needed. One of the most important characteristics of a market economy, also called a free enterprise economy, is the role of a limited government.
Read more about this topic: Market System
Famous quotes containing the word types:
“He’s one of those know-it-all types that, if you flatter the wig off him, he chatter like a goony bird at mating time.”
—Michael Blankfort. Lewis Milestone. Johnson (Reginald Gardner)
“The American man is a very simple and cheap mechanism. The American woman I find a complicated and expensive one. Contrasts of feminine types are possible. I am not absolutely sure that there is more than one American man.”
—Henry Brooks Adams (1838–1918)
“... there are two types of happiness and I have chosen that of the murderers. For I am happy. There was a time when I thought I had reached the limit of distress. Beyond that limit, there is a sterile and magnificent happiness.”
—Albert Camus (1913–1960)