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Free trade market is an economic system where people are allowed to willingly exchange goods, services and money without obstacles. One of the examples of the free market could be a situation where a person can freely trade their money, manpower or any other personal possession for anything that is going to bring benefit for both parties.
A market economy, also widely known as a free market economy, is one in which goods are bought and sold and prices are determined by the free market, with a minimum of external government control. A market economy is the basis of the capitalist system. The opposite of a market economy â i.e, a non-market or planned economy â is one that is heavily regulated or controlled by the government, most notably in socialist or communist countries. Ouch.