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What Is a Market Economy?

In: Dynamic Markets and Conventional Ignorance

Author

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  • A. Coskun Samli

Abstract

In a society, all people are consumers. They have to have goods, clothing, shelter, and medicines, among other things. But consumers do not produce for their own consumption. Products and services are produced by some people and distributed by others that form what is called the market system in general. The market system distributes the goods and services produced to all consumers.

Suggested Citation

  • A. Coskun Samli, 2014. "What Is a Market Economy?," Palgrave Macmillan Books, in: Dynamic Markets and Conventional Ignorance, chapter 0, pages 5-15, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37021-1_2
    DOI: 10.1057/9781137370211_2
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