An example of the way a market economy works is how new technology is priced very high when it is first available for purchase, but the price goes down when more of that technology becomes available. This kind of price f... More »

Countries whose economies attract minimal involvement of the government have a market economy. According to a 2013 Index of Economic Freedom, the United States, Canada, Denmark, the United Kingdom, Hong Kong and Mauritiu... More »

Examples of command economies include the former Soviet Union, China, North Korea and Cuba. One of the defining characteristics of this type of economy is the fact that all decisions relating to the economy are decided b... More »

The two general types of economic systems that exist today are command economy and market economy. Market economy is also called pure capitalism. More »

In a market economy, resources are distributed based on the profitable interactions between producers and consumers. These interactions obey the fundamental law in economics, which is the law of supply and demand. More »

As of 2015, the economy of Turkey is defined as an emerging market economy, states the International Monetary Fund. Turkey is also referred to as a newly industrialized country and a developed country. More »

A market economy is driven by supply and demand. Producers sell goods for the highest prices possible, and members of the labor force work for the highest wages they can earn. Determinations as to how goods and services ... More »