What does market economy mean?

Definitions for market economy
mar·ket econ·o·my

This dictionary definitions page includes all the possible meanings, example usage and translations of the word market economy.

Princeton's WordNet

  1. market economy, free enterprise, private enterprise, laissez-faire economynoun

    an economy that relies chiefly on market forces to allocate goods and resources and to determine prices

Wiktionary

  1. market economynoun

    An economy in which goods and services are exchanged in a free market, as opposed to a state-controlled or socialist economy; a capitalistic economy.

Wikipedia

  1. Market economy

    A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.Market economies range from minimally regulated free market and laissez-faire systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does does substitute the market for economic planning—a form sometimes referred to as a mixed economy.Market economies are contrasted with planned economies where investment and production decisions are embodied in an integrated economy-wide economic plan and economy’s means of production are owned and operated by a single organizational body.

ChatGPT

  1. market economy

    A market economy is a type of economic system where the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand. It is predominantly a private-sector driven system where businesses and consumers freely interact in the market, with the goal to earn profits and satisfy consumer needs. The government's role is typically limited to regulating the economy to protect consumers and businesses, maintain economic stability, and promote competition.

Wikidata

  1. Market economy

    A market economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand, and prices of goods and services are determined in a free price system. The major defining characteristic of a market economy is that decisions on investment and the allocation of producer goods are mainly made through markets. This is contrasted with a planned economy, where investment and production decisions are embodied in a plan of production. Market economies can range from hypothetical laissez-faire and free market variants to regulated markets and interventionist variants. In reality market economies do not exist in pure form, since societies and governments regulate them to varying degrees. Most existing market economies include a degree of economic planning or state-directed activity, and are thus classified as mixed economies. The term free-market economy is sometimes used synonymously with market economy, but it may also refer to laissez-faire or Free-market anarchism. Market economies do not logically presuppose the existence of private property in the means of production; a market economy can consist of various types of cooperatives, collectives or autonomous state agencies that acquire and exchange capital goods with each other in a free price system. There are many variations of market socialism that involve employee-owned enterprises based on self-management that operate in markets, as well as models that involve public ownership of the means of production where capital goods are distributed through markets.

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Numerology

  1. Chaldean Numerology

    The numerical value of market economy in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of market economy in Pythagorean Numerology is: 5

Examples of market economy in a Sentence

  1. Kim Eun-ju:

    North Korea's living standards depend on women's business abilities and skills, not on the state. Women are replacing the role of the state via the market economy, now men are even looking for potential wives in marketplaces.

  2. Scott Pace:

    It's not just our machines or our people that we send into space. It's our values. It's who we are. It's things like rule of law, democracy, human rights, and a free market economy i see Artemis and our human expansion into space as a projection of our American values. It's about diplomatically shaping this new domain that we depend on.

  3. Jeb Hensarling:

    As more Americans and more members of Congress learned about Ex-Im's political lending, corruption and fundamental unfairness, the more they wanted it to expire, now the challenge for supporters of a competitive free-market economy is to make sure Ex-Im stays expired.

  4. Harsha De Seiva:

    In Greece, we saw all the data - including debt and budget deficit - changed after the government change, we will reveal the real numbers to the public and work towards a social market economy with a level playing field for all.

  5. Lakshheish M Patel:

    90% of the jobs advertised in newspapers and portals are fake and do not exist and therefore job seekers will not get often response from them. You can see the same ADs featuring time and again every week for last many months. Companies seem to be under pressure from govt to give ad and project a picture that there are jobs in market. Economy is doing so bad in India


Translations for market economy

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"market economy." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/market+economy>.

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