Home > Term: free market
free market
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.
- Part of Speech: noun
- Industry/Domain: Agriculture
- Category: Agricultural programs & laws
- Company: USDA
0
Creator
- AjayOwor
- 100% positive feedback