free market

A market in which buyers and sellers are free to contract on whatever terms they like without government interference. A system in which the market forces of supply and demand determine prices and allocate available supplies, without government intervention. The concept of a free market approach in agricultural policy, in its purest form, is no government price and income support programs, supply management programs, export subsidies, or barriers to international trade.

Authorization Path: 2.5.6.4.24.0