Northwest Arkansas is a metropolitan area with a rapidly growing population of over 500,000 residents in the principal municipalities of Fayetteville, Springdale, Rogers, Bentonville, and Siloam Springs. A GLOBAL CENTER OF EXCELLENCE IN RETAIL, FOOD, AND LOGISTICS.
A market economy is an economic system in which individuals own most of the resources - land, labor, and capital - and control their use through voluntary decisions made in the marketplace. It is a system in which the government plays a small role. In this type of economy, two forces - self-interest and competition - play a very important role.
a command economy is an economy where government plays the important role. Eg, prices are fixed by the government. a market economy is an economy where private individuals take their own decisions with less government intervation.Eg,prices are fixed by the forces of market-demand and supply. a mixed economy is a combination of both the economies-both the government as well as the private individuals take decisions.