Definition of market economy?

Market economy A market economy is a type of economic system where individuals and enterprises have the freedom to exchange and transfer goods and services without any barriers. Resources are allocated through this system by relying on the market establishment and the price mechanism associated with the demand equation (consumption) and supply ), Without any interference from the State in the productive process,

[1] and defines a market economy as an economic system based on the granting of freedoms to individuals; that is, they have the right to exercise the economic activities they want, and depends on the private ownership of means used in production, The name of free economy

[2] Another definition of a market economy is a system in which economic decisions, prices of services and goods depend on interactions among individual companies in a country.

[3] The emergence of a market economy The emergence of a market economy is due to the economic world Friedrich Hayek; The design of this theory to counter the Kenyan economy, which depends on government intervention to maintain market stability, Hayek refused government interventions in the markets, considering that the market is able to self-correcting itself, with the ability to achieve well-being and freedom of all individuals without any restrictions; M Economic systems are an ideal guarantee of capitalism that contributes to the prosperity of people.