Market System

A market system is a system for coordinating activity, in which a private company or individual has rights over labor and material resources, and the people coordinate the sale or exchange of goods and services. The Sing family was not a market system. When Mrs. Sing told her boys to clean the garage, they did what they were told. One day, Talvin, her son, said, “Mom, this family should be more like a market. We should each have control over our labor. And if you want us to clean the garage, you should have to pay us for our trouble.”

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