who has the power in a market economy
Market economy Market economies range from minimally regulated “free market” and laissez-faire systems - where state activity is restricted to providing public goods and services and safeguarding private ownership[3] - to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning — which guides but does not substitute the market for economic planning — a form sometimes referred to as a mixed economy.[4][5][6]
Factor market In economics, a factor market refers to markets where services of the factors of production are bought and sold, such as the labor markets, the capital market, the market for raw materials, and the market for management or entrepreneurial resources.