The conclusion that can be drawn about the significance of the creation of the European Coal and Steel Community is that it was the last attempt by the nations of Western Europe to cooperate economically until the creation of the European Union.
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A market economy,sometimes is also called a "free market economy," is one in which goods are bought and sold and prices are determined by the free market, with a minimum of external government control. A market economy is the basis of the capitalist system.