A typical feature of a market economy is that

A typical feature of a market economy is that consumer sovereignty exists. Consumer sovereignty means that consumers have the power to determine what goods and services are produced based on their preferences and purchasing decisions. In a market economy, producers compete for the business of consumers by offering goods and services that satisfy their wants and needs. This competition among producers is what helps to set prices and allocate resources in the economy. In a market economy, producers are motivated by the potential to make a profit, but not all producers are guaranteed to be successful or make a profit. Full employment and equality of economic agents are not necessarily characteristics of a market economy. While a market economy may strive for full employment, it is not always achievable, and some individuals may experience unemployment. Similarly, a market economy does not guarantee equality among economic agents, as some individuals and businesses may be more successful or have more resources than others.