What are the types of market?

Answer 1

Free-Market Economy (or Liberal Market Economy): An economic system comprised mainly of privately-owned enterprise (businesses), low levels of regulation and relies heavily on the free-price system to allocate resources. This is distinguished between a planned economy based on private enterprise.

Social Market Economy: A free-market system that utilizes heavy taxation and regulation and recognizes organized labor at the national level, but relies on the free-price system rather than economic planning to allocate goods and services.

Market Socialism and Socialist Market Economies: An economic system comprised of state-run or worker-run enterprises and either a free-price system or a directed and regulated market to allocate resources. This is distinguished with a socialist planned economy.

Mutualism and Cooperative Markets: A form of participatory Economics where enterprises are run as worker and consumer cooperatives (socially-owned) which compete with each other in a market economy. This is distinguished from participatory and cooperative planning.

Any form of Mixed-Economy that relies more on the market rather than economic planning for the allocation of resources.