<P> Market economies range from minimally regulated `` free market '' and laissez - faire systems - where state activity is restricted to providing public goods and services and safeguarding private ownership - to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare . State - directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning -- which guides but does not substitute the market for economic planning -- a form sometimes referred to as a mixed economy . </P>
<P> Market economies range from minimally regulated `` free market '' and laissez - faire systems - where state activity is restricted to providing public goods and services and safeguarding private ownership - to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare . State - directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning -- which guides but does not substitute the market for economic planning -- a form sometimes referred to as a mixed economy . </P>
who has the power in a market economy
who has the power in a market economy
range from minimally regulated `` free market '' and laissez - faire systems - where state activity is restricted to providing public goods and services and safeguarding private ownership - to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare
range from minimally regulated `` free market '' and laissez - faire systems - where state activity is restricted to providing public goods and services and safeguarding private ownership - to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare