Open markets refer to economic systems in which there are minimal restrictions on trade and investment, allowing for free flow of goods, services, and capital between countries. This promotes competition and efficiency in the marketplace.
Related terms
Deregulation: Deregulation refers to the removal or reduction of government regulations in industries such as finance, telecommunications, or transportation to promote competition and innovation.
Free Trade: Free trade is the policy of allowing goods and services to be traded across borders without tariffs or other barriers. It encourages economic growth by expanding markets and promoting specialization.
Globalization: Globalization is the increasing interconnectedness and interdependence of countries through the exchange of goods, information, technology, and ideas. It allows for open markets on a global scale.