Market Economic System

A society changes more advancing and more developing. The goods which are produced are not directed to fulfill the need of society, but they are also offered to the other societies. On the other way round, they also get the goods from other societies for fulfilling their economic need. The exchanges become extensive. The goods and merit which they produce become more various.

A market economic system is often called as liberal economic system or capitalistic economic system. The following are the characteristics of market economic system : The individual’s proprietary right are confessed, The freedom of endeavoring and the freedom of competing are given, Production orientation to market with the aim of achieving maximal beneafits,Economic activities are controlled by the market mechanism; the government does not have a right to adulterate in economics.

Sutarno,Sunarto,Sudarno,Isrorah,Siti Nurjanah. 2009. Theory and Aplication of Economics. Solo : PT. Tiga Serangkai Pustaka Mandiri.