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Non-market economics is the study of the trade, and distribution of property (such as goods and services) in a way other than that used by the market system (the free price system, which relies on supply and demand to reach mutually agreed prices between those buyers and sellers). A non-market price system can be described as an administered price system, in which an authority determines the prices of properties.
The term "non-market economy" is also used as a legal term in U.S. law: "non-market economies do not allocate resources according to traditional market concepts of supply and demand".
Non-market economic systemsEdit
There are various types of non-market economies, such as:
- Tatelman, Todd (April 23, 2007). "United States' Trade Remedy Laws and Non-market Economies: A Legal Overview" (PDF). Retrieved February 9, 2022.