| English Dictionary |
MARKET ECONOMY
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| IPA (US): |  |
Dictionary entry overview: What does market economy mean?
• MARKET ECONOMY (noun)
The noun MARKET ECONOMY has 1 sense:
1. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Familiarity information: MARKET ECONOMY used as a noun is very rare.
Dictionary entry details
Sense 1
Meaning:
An economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Classified under:
Nouns denoting groupings of people or objects
Synonyms:
free enterprise; laissez-faire economy; market economy; private enterprise
Hypernyms ("market economy" is a kind of...):
economic system; economy (the system of production and distribution and consumption)
Hyponyms (each of the following is a kind of "market economy"):
capitalism; capitalist economy (an economic system based on private ownership of capital)
Antonym:
non-market economy (an economy that is not a market economy)
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