Markets

CLAIM CONNECTIONS / 8

Where this source is used

• Production for exchange does not by itself specify the ownership of productive assets.

  • supports · section 1, paragraphs 4–5

• Firms commonly coordinate their internal activity through hierarchy rather than market exchange.

  • supports · section 1, paragraph 3

• A market is a social institution in which goods and services are regularly exchanged.

  • supports · section 1, paragraph 1

• An economy can include both markets and corporations while corporations coordinate their internal activity through hierarchy.

  • supports · section 1, paragraph 3

• Economies allocate goods through mechanisms other than markets, including reciprocity and redistribution.

  • supports · section 1, paragraph 3

• The existence of regulation does not make an economy non-market.

  • supports · section 4.3, paragraph 1

• Market exchange can coexist with forms of capital ownership other than private ownership.

  • supports · section 1, paragraphs 4–5

• A functioning market economy requires legal rules that protect property rights and enforce contracts.

  • supports · section 4.1, paragraph 1