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
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.
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.
The numerical value of market economy in Chaldean Numerology is: 5
The numerical value of market economy in Pythagorean Numerology is: 5
Sample Sentences & Example Usage
It's possible Kim Jong Un may free up the market economy at some point during the congress.
Actually, this is a decision that overturns the EU's substitute country system. I think it will be a major boost for Chinese market economy status at the end of the year.
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.
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.
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.
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Translations for market economy
From our Multilingual Translation Dictionary
- اقتصاد السوقArabic
- tržní hospodářstvíCzech
- economía de mercadoSpanish
- économie de marchéFrench
- 市場經濟, 시장 경제Korean
- economia de mercadoPortuguese
- рыночная экономикаRussian
- piyasa ekonomisiTurkish
- nền kinh tế thị trườngVietnamese
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"market economy." Definitions.net. STANDS4 LLC, 2018. Web. 19 Apr. 2018. <https://www.definitions.net/definition/market economy>.