Lapsanky-Werner et. al.     817     Market Economy

• Market economy (Capitalist, Free Enterprise)
• Capitalism originated centuries ago; really since some of the first buying and selling of gooods in a market

Lapsanky-Werner et. al.     817     Market Economy

• In the 1800s a shift from agricultare to industry was made and this was known as the Industrial age
• A man by the name of Adam Smith helped to develop the market economy by his ideas 

Lapsanky-Werner et. al.     817     Market Economy

• Adam Smith's ideas were the bases for the market economy
• Market economy was based on economic decisions made in the marketplace between buyers and sellers according to the laws of supply and demand 
• Supply and Demand later became the backbone of Market economy

Lapsanky-Werner et. al.     100-101   Market Economy

• A man by the name of Horatio Alger published a novel that encouraged capitalist entreprenuers 
• Capitalism 
  an economic and political system where a  country's trade and industry are controlled by private owners and not by the state.
• 
  

Lapsanky-Werner et. al. 314 Market Economy

• The next major base in Market economy is free enterprise systems
• The free enterprise system minimizes government intervention and maximizes the role of the market throughout a region 

Lapsanky-Werner et. al. 778-779 Market Economy

• The role of free trade  been around for centuries
• Free trade is the premier stance on market economy because it creates lower costs for consumer goods

Lapsanky-Werner et. al. 778 Market Economy

• Characteristics of the free market portray that it provides better chances for both consumers and producers by creating more jobs and allowing competition to decide what businesses are successful. 

Lapsanky-Werner et. al. 817p Market Economy

• Capitalism and free enterprise are comparedand  seen as comparable; even though part of this is true they are distinct terms with similar features. It is possible to have a capitalist economy without complete free enterprise, and possible to have a free market without capitalism.

Lapsanky-Werner et. al. 816Market Economy

• Market economy bases its success off of efficiency and making the most of resources 

Lapsanky-Werner et. al. 816 Market Economy

• Market economy makes society roll because of its economic equity 
• Economic growth and innovation is like push and pull. They big work together and one is the cause o effect of the other