Free Market Economics
Free market economy is almost synonymous with Laissez Faire economy, that is, free market without economic intervention and regulation by government. Free-market economy is often used synonymously with Market Economy. Free market economy is the opposite of a controlled market economy.
Free Market economy is an economy in which goods and services are freely exchanged without obstruction or regulation and where decisions about production and consumption. In free market economy decisions regarding investment, production and distribution are based on supply and demand where the prices of goods and services are determined in a free price system.
In free market economy the buyers and sellers are solely responsible for the choices they make. Free market gives the absolute power to prices to determine the allocation and distribution of goods and services. In free market economy there is free trade without any tariffs or subsidies imposed by the government.