Is economic system same as market system?
We have the essay to write about the simillarities and differences between the capitalism and market system. Instead, I wrote about the market economy, which is one type of the economic system. I googled the market system and it is said to have different classification according to time, competition and structure. Can I refer to a market economy as one of the market systems?
I'm not quite sure what you mean by market system but this article will help you distinguish between capitalism and market economies:
https://www.investopedia.com/ask/answers/042215/what-difference-between-capitalist-system-and-free-market-system.asp#:~:text=They%20both%20are%20involved%20in,wealth%2C%20or%20goods%20and%20services.
https://www.investopedia.com/ask/answers/042215/what-difference-between-capitalist-system-and-free-market-system.asp#:~:text=They%20both%20are%20involved%20in,wealth%2C%20or%20goods%20and%20services.
Original post by thrwawy
I'm not quite sure what you mean by market system but this article will help you distinguish between capitalism and market economies:
https://www.investopedia.com/ask/answers/042215/what-difference-between-capitalist-system-and-free-market-system.asp#:~:text=They%20both%20are%20involved%20in,wealth%2C%20or%20goods%20and%20services.
https://www.investopedia.com/ask/answers/042215/what-difference-between-capitalist-system-and-free-market-system.asp#:~:text=They%20both%20are%20involved%20in,wealth%2C%20or%20goods%20and%20services.
I have made research and found that by market system are the various systems that are driven by market (obviously), so basically market economy can be reffered as market system as it has same definition. Thank you for the reply tho
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