turupõhisel

The Estonian word "turupõhisel" translates to "market-based" in English. It describes an approach or system that relies on market forces, such as supply and demand, to determine prices, allocate resources, or make decisions. This concept is widely applied in various economic and social contexts.

In economic terms, a turupõhisel economy is one where most goods and services are exchanged through voluntary transactions between buyers and sellers. Prices are typically set by the interaction of supply and demand, rather than by government intervention or central planning. This can lead to greater efficiency and innovation as businesses respond to consumer preferences and competitive pressures.

The principle of turupõhisel can also extend to other areas. For instance, in education, a turupõhisel model might involve schools competing for students and funding based on their performance and offerings. Similarly, in healthcare, some reforms have aimed to introduce more market-based mechanisms to influence service delivery and costs. The core idea remains that decentralized decision-making, driven by competitive forces and individual choices, leads to a desired outcome.