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The Essence and Functioning of the Market Economy

Year: 2026

Type: article

Abstract: This article examines the economic essence, institutional foundations, and operational mechanisms of the market economy. It analyzes the interaction between supply and demand, price formation, competition, private property, entrepreneurship, and government regulation. Particular attention is given to market efficiency, resource allocation, economic growth, income distribution, and the challenges associated with market failures. Using international economic statistics, analytical formulas, and comparative indicators, the study evaluates the functioning of market mechanisms and their contribution to sustainable economic development. The findings emphasize that an effective market economy requires institutional stability, competitive markets, financial accessibility, and appropriate public regulation.

Source: International journal of technology and academic research

Authors: Iskandarov Bekzod Abdijalilovich,, Imomqulov Asadbek

Language: English

Topic: Economic Theory and Institutions

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W7225553224

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Related to: 10