An economic system in which individuals and firms exchange goods and services in a largely unfettered manner is a

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A market economy is defined as an economic system where the production and distribution of goods and services are determined by supply and demand in a free market, with little to no government regulation or intervention. In this system, individuals and firms are free to exchange goods and services as they see fit, without external interference. This type of economic system is often contrasted with command economies, where the government owns and controls the means of production, and allocates resources and goods based on central planning. Communist and developmental states may have varying degrees of government control and regulation over the economy, making them distinct from a pure market economy.

An Economic System in Which Individuals and Firms Exchange Goods