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

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A market economy is characterized by the voluntary exchange of goods and services between individuals and firms with minimal government intervention. In a market economy, prices are determined by supply and demand, rather than by government fiat, and individuals are free to choose how to allocate their resources. This system is also known as capitalism, although capitalism can refer to a more complex system of economic organization that includes elements of government intervention, such as regulations and taxes. Communism, by contrast, is a system in which the means of production are owned collectively and economic decisions are made centrally, while a command economy is a system in which government planners dictate production and consumption decisions.

An Economic System in Which Individuals and Firms Exchange Goods