The United States is an example of a market economy. It has a central bank, the Federal Reserve, that attempts to influence the overall direction of the economy. It has a Congres… See more

The theoretical basis for market economies was developed by classical economists such as Adam Smith, David Ricardo, and Jean-Baptiste Say. These liberal free marketadv… See more

Market economies rely on the forces of supply and demandto determine the appropriate prices and quantities for most goods and services. Entrepreneurs marshal the factors … See more

Every economy in the modern world falls somewhere along a continuum running from pure market to fully planned. Most developed nations are technically mixed economies … See more

Like the United States, most countries have primarily market economies. Keep in mind, however, that such economies are still influenced to some degree by government policies. Th… See more