📈market economy

noun
ˈmɑːr.kɪt ɪˈkɒn.ə.mi

Meaning

An economic system where production and pricing decisions are controlled by individuals and based on supply and demand.

Example Sentences

A market economy allows businesses to compete freely.

Synonyms

Free Market, Capitalist Economy, Laissez-faire System

Antonyms

Command Economy, Planned Economy, State-controlled Economy

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