free market

noun

plural free markets

: an economic system in which prices are based on competition among private businesses and are not controlled or regulated by a government : a market (see market entry 1 sense 4d) operating by free competition

… the free market works best when businesses compete to provide the best services …

—Chris Tomlinson

A free market, technically, requires no government intervention, which is why capitalists usually land on the right of the political spectrum. In America, the government regulates businesses for reasons of social welfare and public safety …, so we don't operate in a truly free market.

—Carolyn Twersky

—often hyphenated when used before another noun

free-market competition

free-market principles

One of the basic premises of the free-market system is that actors are free to buy from or sell to a variety of other actors.

—Barry C. Lynn

Examples of free market in a Sentence

Recent Examples on the Web

Yet the country’s remarkable growth story in recent decades has been driven by free market capitalism. —Editorial Board, Washington Post, 11 Mar. 2026

Today, free markets, global trade and investment encourage stability and the rule of law. —Arthur I. Cyr, Chicago Tribune, 10 Mar. 2026

But people don’t want a free market with live music. —Los Angeles Times, 10 Mar. 2026

During a debate Tuesday, some lawmakers quibbled over whether the bill would infringe on the free market. —Angela Palermo, Idaho Statesman, 5 Mar. 2026

Word History

First Known Use

1642, in the meaning defined above

Rhymes for free market

• nonmarket
• premarket
• upmarket
• aftermarket
• patriarchate
• supermarket

Kids Definition

free market

noun

: an economic market operating by free competition