market economy

noun

Definition of market economy

: an economy in which most goods and services are produced and distributed through free markets

Examples of market economy in a Sentence

Recent Examples on the Web At the start of the year, prices for the fuel called liquefied petroleum gas roughly doubled as the government moved away from price controls as part of efforts to move to a market economy. Jim Heintz, USA TODAY, 6 Jan. 2022 At the start of the year, prices for the gas called LPG roughly doubled as the government moved away from price controls — part of efforts to transition to a market economy. Fox News, 6 Jan. 2022 At the start of the year, prices for the fuel called liquefied petroleum gas roughly doubled as the government moved away from price controls as part of efforts to move to a market economy. Jim Heintz, Anchorage Daily News, 6 Jan. 2022 At the start of the year, prices for the gas called LPG roughly doubled as the government moved away from price controls as part of efforts to move to a market economy. Jim Heintz, ajc, 5 Jan. 2022 If approved in a referendum next year, the new document could require the government to abandon fiscal discipline while raising public spending or dismantling some of the pillars of the market economy, analysts say. Ryan Dube, WSJ, 20 Dec. 2021 As a market economy emerged in the 1700s, according to Jill Lepore in a New Yorker essay on the historical treatment of debtors, debt punishments shifted away from imprisonment — which also meant that punishments shifted away from the body. Kristin Collier, Longreads, 1 Dec. 2021 How could such a clear shortage persist for three decades in a market economy? Nicolás Rivero, Quartz, 10 Nov. 2021 Under that formula, China’s market economy took off, generating vast new wealth over the past 40 years, but also great inequality, worse than that in India and slightly less than in the United States, according to World Bank data. Ann Scott Tyson, The Christian Science Monitor, 14 Oct. 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'market economy.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of market economy

1918, in the meaning defined above

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Time Traveler for market economy

Time Traveler

The first known use of market economy was in 1918

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Dictionary Entries Near market economy

market day

market economy

marketeer

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Statistics for market economy

Last Updated

12 Jan 2022

Cite this Entry

“Market economy.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/market%20economy. Accessed 19 Jan. 2022.

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More Definitions for market economy

market economy

noun

English Language Learners Definition of market economy

: an economic system in which prices are based on competition among private businesses and not controlled by a government

More from Merriam-Webster on market economy

Britannica.com: Encyclopedia article about market economy

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