The economy you described in your question is called a market economy. It has free markets and the production of goods and services are determined by the consumers.
C)They allow multiple votes, from multiple voices to be heard
Political parties foster multiple elections. Most famously, the primary and general presidential elections. In the primary election the candidate that will represent each political party is voted into candidacy for the general election. In the general election voters choose between the candidate from each party to become president.
Hong Kong was gained during the Opium wars.
