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market economy
📈
market economy
noun
ˈmɑːr.kɪt ɪˈkɒn.ə.mi
market
Market Penetration
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
Related Articles
Learn Vocabulary Through Article 155 - Market vs. Command Economies Explained
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