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Which economy is a market-oriented economy?
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Capitalism is an economic system in which private companies make decisions concerning producing and distributing goods and services. A government or other central authority does not. Capitalism and a market economy are considered the same thing.
A market-oriented economy is one where production of goods and services is determined by supply and demand. In this type of economy, prices are set freely through interactions between consumers and businesses, rather than by a central government.
Here are some examples of market-oriented economies:
The United States
Japan
Germany
South Korea
India (to a large extent, although there is some government intervention)
A capitalist economy is a market-oriented economy where the means of production are privately owned, and economic decisions are driven by individual choices and the forces of supply and demand in the market.