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

If there is a communist threat clawing its way into the halls of American power, that threat is coming from inside the White House, which has interfered with the free market not for social benefit but to strengthen its own centralized power. — Elizabeth Shackelford, Chicago Tribune, 7 Aug. 2026

Everyone gets to choose the shape of their own tattoo, because of personal liberties and free markets. — Hillary Busis, Vanity Fair, 5 Aug. 2026

Until recently the China v Australia iron ore trade was essentially a free market with suppliers and customers negotiating over tonnage and price. — Tim Treadgold, Forbes.com, 4 Aug. 2026

The network has cited support from a range of community groups, press freedom organizations and former FCC chairs and top ranking officials, as well as conservative and free market groups like Americans for Tax Reform. — Ted Johnson, Deadline, 30 July 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