Questions what is the main features of the socialist economy?

Features of transition to market relations in the Republic of Uzbekistan? Key words: Liberalization, institutional change, macroeconomic stabilization The transition to a market economy is the transition from economic relations in the traditional and planned command system to market relations. Uzbekistan, taking into account its unique cultural, historical, economic and natural features, as well as the world experience in this direction, will be able to move slowly, but resolutely, without revolutionary coups, social conflicts, strengthening social protection, has chosen the path of gradually transitioning to a developed and managed market economy. The transition to market relations in Uzbekistan is aimed at building a socially oriented market economy. The implementation of this path, the radical reform of the economy is based on 5 principles developed by First President Islam Karimov:1. De-ideologicalization of the economy, ensuring its supremacy;2. The state will be the main reformer in the transition period;3. The whole process of renewal and development should be based on the law, ensuring the rule of law;4. Implement strong measures in the field of social protection, along with the transition to market relations;5. Step-by-step decision of market relations.

What is the free market economy? Key words: market, price, demand and supply

Answer: In economics, a free market is a system in which the prices for goods and services are self-regulated by the open market and by consumers. In a free market, the laws and forces of supply and demand are free from any intervention by a government or other authority, and from all forms of economic privilege, monopolies and artificial scarcities. Proponents of the concept of free market contrast it with a regulated market in which a government intervenes in supply and demand through various methods such as tariffs used to restrict trade and to protect the local economy. In an idealized free-market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy. Scholars contrast the concept of a free market with the concept of a coordinated market in fields of study such as political economy, new institutional economics, economic sociology and political science. All of these fields emphasize the importance in currently existing market systems of rule-making institutions external to the simple forces of supply and demand which create space for those forces to operate to control productive output and distribution. Although free markets are commonly associated with capitalism within a market economy in contemporary usage and popular culture, free markets have also been advocated by anarchists, socialists and some proponents of cooperatives and advocates of profit sharing. Criticism of the theoretical concept may regard systems with significant market power, inequality of bargaining power, or information asymmetry as less than free, with regulation being necessary to control those imbalances in order to allow markets to function more efficiently as well as produce more desirable social outcomes.

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