English version

market economy in Economics topic

From Longman Dictionary of Contemporary Englishmarket economyˌmarket eˈconomy noun [countable]  BBTPEan economic system in which companies are not controlled by the government but decide what they want to produce or sell, based on what they believe they can make a profit from
Examples from the Corpus
market economyIn a market economy, there must be demand.This pinpoints a fundamental weakness in the libertarian defence of a market economy.Yeltsin took drastic steps to move his country toward a market economy, steps that required severe sacrifice for millions of people.Outsiders, ever hopeful, see movement towards a market economy.But as these countries gradually, if fitfully, merge into the global market economy, fewer and fewer such barriers exist.The two ideal-type political economies are the market economy and the command economy.The family currently lacks a legal infrastructure for operating in the market economy.