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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.

A market economy allows businesses to compete freely.

Free Market, Capitalist Economy, Laissez-faire System

Command Economy, Planned Economy, State-controlled Economy

A reduction in the value of an asset with the passage of time, due in particular to wear and tear.

a list of books, articles, or other sources used or referred to in scholarly work

Economic activity concerned with the processing of raw materials and manufacture of goods in factori...

extreme fear; the use of violence and intimidation for political aims

a crustacean with a broad carapace, stalked eyes, and five pairs of legs, the first pair of which ar...

A short novel or long short story.