market economy
noun
Definition of market economy
: an economy in which most goods and services are produced and distributed through free markets
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First Known Use of market economy
1929
MARKET ECONOMY Defined for English Language Learners
market economy
noun
Definition of market economy for English Language Learners
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: an economic system in which prices are based on competition among private businesses and not controlled by a government
Learn More about market economy
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Britannica.com: Encyclopedia article about market economy
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