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Typology of Market Economies

Author

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  • Ion-Bocãnete Oana

    (Faculty of Economic Sciences “Ovidius” University of Constanta)

Abstract

The market economy is an economic system characterized by the following: The objective pursued by the economic agents is the profit maximization. The goal of all the decisions and actions of the management staff is directly or indirectly aimed at having the company they work for obtaining the highest possible profit. The national economy is made up in predominant proportion by economic (nor administrative) agents, mainly undertakings. By economic agent we understand an organization that aims at profit making, using predominantly economic means, and whose survival and development is conditioned by profit marking. The most frequent economic agent in the market economy conditions is the enterprise or company.

Suggested Citation

  • Ion-Bocãnete Oana, 2012. "Typology of Market Economies," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 537-539, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:537-539
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    More about this item

    Keywords

    market economy; economic agents; profit; enterprise.;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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