Title: Market economy
Content:   A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production. 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 yet does not substitute the market for economic planning—a form sometimes referred to as a mixed economy. Market economies are contrasted with planned economies where investment and production decisions are embodied in an integrated economy-wide economic plan. In a centrally planned economy, economic planning is the principal allocation mechanism between firms rather than markets, with the economy's means of production being owned and operated by a single organizational body.
Title: Economic system
Content:  economic enterprises. In a capitalist economic system, production is carried out for private profit and decisions regarding investment and allocation of factor inputs are determined by business owners in factor markets. The means of production are primarily owned by private enterprises and decisions regarding production and investment are determined by private owners in capital markets. Capitalist systems range from laissez-faire, with minimal government regulation and state enterprise, to regulated and social market systems, with the aims of ameliorating market failures (see economic intervention) or supplementing the private marketplace with social policies to promote equal opportunities (see welfare state), respectively. In socialist economic systems (socialism), production for use is carried out; decisions 
Title: Law of value
Content:  is to raise or lower their own prices, but even so they can do that only within certain limits. Ordinarily, people have to accept and work with many given cost-price levels and given sale-price levels which they cannot do anything about. If a product cannot be produced at a certain cost, or if it cannot be sold at a certain price-level, it is unlikely that it will be available much at all. In this way, Marx argues, production activities actually become dominated by the values of the products being produced and exchanged (so-called "market forces"), often quite irrespective of what human needs might be, because these product-values will determine whether and how it is "economic" or "uneconomic" to produce and trade particular products.
Title: Decentralised system
Content:  A market economy is an economy in which decisions on investment and the allocation of producer goods are mainly made through markets and not by a plan of production (see planned economy). A market economy is a decentralised economic system because it does not function via a central, economic plan (which is usually headed by a governmental body) but instead, acts through the distributed, local interactions in the market (e.g. individual investments). While a "market economy" is a broad term and can differ greatly in terms of state or governmental control (and thus central control), the final "behaviour" of any market economy emerges from these local interactions and is not directly the result of a central body's set of instructions or regulation.
Title: Economic democracy
Content: "The bulk of the means of production are privately owned, either directly by individuals or by corporations that are themselves owned by private individuals. ; "Products are exchanged in a market -- that is to say, goods and services are bought and sold at prices determined for the most part by competition and not by some governmental pricing authority. Individual enterprises compete with one another in providing goods and services to consumers, each enterprise trying to make a profit. This competition is the primary determinant of prices. ; "Most of the people who work for pay in this society work for other people, 
Title: Economy
Content:  markets, niche markets, increases revenue functions) such as, that which produces intellectual property and changes in industrial relations (most notably child labor being replaced in some parts of the world with universal access to education). A market-based economy is one where goods and services are produced and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency. A command-based economy is one where political agents directly control what is produced and how it is sold and 
Title: Market economy
Content:  Market economies rely upon a price system to signal market actors to adjust production and investment. Price formation relies on the interaction of supply and demand to reach or approximate an equilibrium where unit price for a particular good or service is at a point where the quantity demanded equals the quantity supplied. Governments can intervene by establishing price ceilings or price floors in specific markets (such as minimum wage laws in the labor market), or use fiscal policy to discourage certain consumer behavior or to address market externalities generated by certain transactions (Pigovian taxes). Different perspectives exist on the role of government in both regulating and guiding market economies and in addressing social inequalities produced by markets. Fundamentally, a market economy requires that a price system affected by supply and demand exists as the primary mechanism for allocating resources irrespective of the level of regulation.
Title: Economic system
Content:  productive activity, which is distributed as income among the economic organizations, individuals and groups within society, such as property owners, workers and non-workers, or the state (from taxes). ; A public choice mechanism for law-making, establishing rules, norms and standards and levying taxes. Usually, this is the responsibility of the state, but other means of collective decision-making are possible, such as chambers of commerce or workers’ councils. There are multiple components to an economic system. Decision-making structures of an economy determine the use of economic inputs (the factors of production), distribution of output, the level of centralization in decision-making and 
Title: Inclusive Democracy
Content:  expressed through a voucher system". The proposed system of the artificial market aims at: The former requires that basic macro–economic decisions have to be taken democratically, whereas the latter requires the individual to take important decisions affecting his/her own life (what work to do, what to consume, etc.). Both the macro–economic decisions and the individual citizens' decisions are envisaged as being implemented through a combination of democratic planning and an artificial market. But, while in the 'macro' decisions the emphasis will be on planning, the opposite will be true as regards the individual decisions, where the emphasis will be on the artificial market. Most artificial market proponents reject the 
Title: Economic unit
Content: 1) Firms ; Firms make production decisions. These include what goods to produce, how these goods are to be produced and what prices to charge. They employ the various factors of production and they sell the finished goods to the households for consumption and to the government. ; 1) Households ; Households make consumption decisions and own factors of production. They provide firms with factor services in production, and buy finished goods from firms for consumption. ; 1) Government ; The government collects taxes from households, buys goods from firms, and distributes those goods to households individually or collectively. It also redistributes purchasing power between households. In an economy, production, consumption and exchange are carried out by three basic economic units: the firm, the household, and the government. 

Question: who makes the decisions about what to produce in a market economy?
Answer: capital and financial markets.