B2 noun ˈmɑːr.kɪt ɪˈkɒn.ə.mi
market economy
Marktwirtschaft
Meaning
An economic system where production and pricing decisions are controlled by individuals and based on supply and demand.
Example
A market economy allows businesses to compete freely.
Eine Marktwirtschaft ermöglicht es Unternehmen, frei zu konkurrieren.