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MARKET ECONOMY

Pronunciation (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 


MARKET ECONOMY (noun)


Sense 1market economy [BACK TO TOP]

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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