market economy - definition in the American English Dictionary - Cambridge Dictionaries Online

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English definition of “market economy”

market economy

noun [C]  us   /ˈmɑr·kɪt ɪˈkɑ·nə·mi/
social studies an economic system in which goods and services are made, sold, and shared and prices set by the balance of supply and demand
(Definition of market economy from the Cambridge Academic Content Dictionary © Cambridge University Press)
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