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 types his laboured column—weary drudge!
Senile fudge and solemn:
Spare, editor, to condemn
These dry leaves of his autumn.”
—Robertson Davies (b. 1913)
“The bourgeoisie loves so-called “positive” types and novels with happy endings since they lull one into thinking that it is fine to simultaneously acquire capital and maintain one’s innocence, to be a beast and still be happy.”
—Anton Pavlovich Chekhov (1860–1904)
“The rank and file have let their servants become their masters and dictators.... Provision should be made in all union constitutions for the recall of leaders. Big salaries should not be paid. Career hunters should be driven out, as well as leaders who use labor for political ends. These types are menaces to the advancement of labor.”
—Mother Jones (1830–1930)