Definition of Free market

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TeachMeFinance.com - explain Free market



Free market

The term 'Free market ' as it applies to the area of agriculture can be defined as ' A system in which the market forces of supply and demand determine prices and allocate available supplies, without government intervention. The concept of a free-market approach in agricultural policy, in its purest form, is no government price and income support programs, supply management programs, export subsidies, or barriers to international trade'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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