The Nordic model refers to a socio-economic system found in the Nordic countries, including Sweden, Norway, Denmark, Finland, and Iceland. It combines a free market economy with a comprehensive welfare state, ensuring that citizens have access to essential services like healthcare, education, and social security. This model aims to promote economic growth while reducing inequality. In the Nordic model, high taxes fund extensive public services, which contribute to a high standard of living. Labor market policies encourage both employment and worker rights, fostering a balance between flexibility for businesses and security for employees.