What does market economy mean?

Definitions for market economy

Here are all the possible meanings and translations of the word market economy.

Princeton's WordNet

  1. market economy, free enterprise, private enterprise, laissez-faire economy(noun)

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

Wiktionary

  1. market economy(Noun)

    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.

Freebase

  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.

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

Sample Sentences & Example Usage

  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. 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.

  3. Franklin Templeton Mark Mobius:

    I believe the authorities in China are learning and this process is on-going regarding how to handle market behaviour, they definitely want to transform China into a market economy and given that intention, I think they will not continue to try to impose drastic controls.

  4. Executive Chairman Jack Ma:

    Consumption is not done by government. Consumption is done by entrepreneurship and( a) market economy. So I think people like us have a great opportunity. Now it's our turn. Not the government's turn, after 30 years, the government pushed the economy in their way, and now it's our way. I consider this as an opportunity for a real market economy.

  5. Marian Tupy:

    Some of the anti-capitalist impulse goes back to that hunter-gatherer mentality and not comprehending the complexity of the market economy, the complexity outpaced our ability to understand it. But even those who do n’t understand markets should open their eyes and acknowledge its benefits : Worldwide, wherever economic freedom is allowed, millions of people have lifted themselves out of stoop labor and miserable poverty. Of course, not everyone can reap the benefits of markets. The sick, the mentally ill and other truly helpless people need a hand. But why assume government must provide that help ? Government does n’t do anything very well. Why not let private charity handle it ? I once assumed there was too much poverty for private charity to make much of a difference. But now I realize there is plenty of money, and private charity would do much more if government did n’t discourage it. When the welfare state took over poverty relief, it crowded out.

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