What Is a Non-Market Economy?

Non-market economy status refers to countries that are not market economies.

Non-market economy status

The European Union also proposed five standards for the market economy: (1) the market economy determines prices, costs, and investments; (2) companies have basic accounting books that meet international accounting standards; (3) corporate production costs and financial treatment are not ex-non-market Distortion of the economic system; (4) Enterprises have the freedom to transfer profits or capital abroad, freedom to determine export prices and quantities, and freedom to conduct business activities; (5) ensure that bankruptcy and asset laws apply to enterprises; exchange rates Changes are determined by market supply and demand. ^[2]