Buyers and sellers negotiate prices for goods and services through supply and demand in 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.
Although there may be some central planning or government interference, this phrase typically denotes a more generally market-oriented economy.
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 free to pursue profit by producing outputs that are worth more than the inputs they consume, or, if they choose not to, to fail and close their doors.
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