Market economy what Is a Market Economy?

Free-market capitalism 
See also: Free market 
A capitalist free-market economy is an economic system where prices for goods and services are set freely by the forces of 
supply and demand and are expected by its supporters to reach their point of equilibrium without intervention by government 
policy. It typically entails support for highly competitive markets, private ownership of productive enterprises. Laissez-faire is a 
more extensive form of free-market economy where the role of the state is limited to protecting property rights and enforcing 
contracts.  
Laissez-faire capitalism 
Main article: Laissez-faire 
See also: Economic liberalism 
Laissez-faire is synonymous with what was referred to as strict capitalist free-market economy during the early and mid-19th 
century
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as a classical liberal ideal to achieve. It is generally understood that the necessary components for the 
functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price 
pressures and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes 
or tariffs other than what is necessary for the government to provide protection from coercion and theft, maintaining peace and 
property rights and providing for basic public goods. Right-libertarian advocates of anarcho-capitalism see the state as morally 
illegitimate and economically unnecessary and destructive. Although laissez-faire has been commonly associated with 
capitalism, there is a similar left-wing laissez-faire system called free-market anarchism, also known as free-market anti-
capitalism and free-market socialism to distinguish it from laissez-faire capitalism.
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Thus, critics of laissez-faire as 
commonly understood argues that a truly laissez-faire system would be anti-capitalist and socialist.
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