English version

market economy

From Longman Dictionary of Contemporary English
Related topics: Trade, Economics
market 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.
From Longman Business Dictionarymarket economyˈmarket ˌeconomy (also free economy), free market economy [countable]ECONOMICS an economy in which companies are not controlled by the government but decide for themselves what to produce and sell, based on what they believe they can make a profit fromThe Colombian government has demonstrated its belief in a market economy by privatizing inefficient state companies. economy
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