how exactly does Germany's economy work?

[b 0 o]

im doing a project on germany's economy and i know that they have a social market economy. i know this will sound somewhat stupid but can someone really explain what that really means. because i can choose to just paraphrase and hand that up but i want to know what its about. i really want to understand it. please help me!!

[Michelle B]

The concept of a social market economy was developed by the Freiburg economists and put into work in Germany by Ludwig Ehrhard. It defined economic competition that oligopoly the best market structure is when big firms with enough resorces can compete with one another freely because they have capacities to response to changes in demand and technology. Small firms will work under the umbrella of the big firms.Loosers will be helped by social-net. It's called Hart IV now.