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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 particular version or printing of a book, newspaper, or other publication

A general increase in prices and fall in the purchasing value of money.

a list of goods sent or services provided, with a statement of the sum due for these

the action of helping someone with a job or task; support

The wealth and resources of a country or region.

the process or result of joining two or more things together to form a single entity