Topic summary
Market-based
Extracted from the Wikipedia article Market economy.
At the other end of the spectrum are interventionist market economies, where governments take a more active role in correcting market failures and promoting social welfare. In state-directed or dirigiste systems, the government guides the broader development of the economy through tools such as industrial policies or indicative planning. In these systems, the state influences economic direction without completely replacing market-based allocation, a structure often described as a mixed economy.