What was a factor in the increasing involvement of old northwest farmers in the market economy?

The factor in the increasing involvement of old northwest farmers in the market economy is "the financing for the purchase of land and supplies came from loans made by eastern insurance companies and banks firms."

What is market economy?

A market economy is a kind of capitalism in which a nation's businesses and citizens interact to determine economic policy and the cost of goods and services.

Despite the possibility of central planning or government interference, this phrase typically denotes a more generally market-oriented economy.

Some key features of market economy are-

The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand.
In a market economy, entrepreneurs are allowed to seek profit by producing outputting that are worth more than the input they consume, or, if they choose not to, to fail and close their doors.
Most economists concur that market-oriented economies result in superior economic performance, but they disagree on the precise ratio of markets to central planning that is most beneficial for a country's long-term well-being.

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