Quasi-market
type of exchange system
Quasi-markets are markets which can be supervised and organisationally designed that are intended to create greater desire and more efficiency in comparison to conventional delivery systems, while supporting more accessibility, stability and impartiality than traditional markets. Quasi-markets also can be referred to as internal or planned markets.
A market is a form of exchange mechanism of goods and services that is used to align supply and demand commonly by using the act of price adjusting. As such, a market also can be considered a self-adjusting financial incentive device that impacts the behaviour of each producer and purchaser so that both parties agree on the terms of an exchange. Quasi-markets are also an exchange system; they aim to comply with the characteristics of competitive markets by attempting to be self-correcting, inducement structures that impact purchasers and producers' behaviours. Quasi-markets differ, however, by possessing characteristics and aspects at both the supply and demand stages that are not shared in traditional markets.
Outsourcing in the public sector creates so-called Quasi-markets for services that are primarily funded by taxes. The phrase Quasi-market emphasises the distinction between markets for tax-financed services and typical markets, specifically that the consumed services are paid for by a third party—the government. The existence of political aims that would not be met in a free market is the normative rationale for the government to pay. Most democratic countries place a premium on equal access to education and healthcare.
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This entry incorporates text from “Quasi-market” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.