Meaning of “free market” in the English Dictionary

american-english dictionary

"free market" in American English

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free marketnoun [ C ]

us /ˈfri ˈmɑr·kɪt/

social studies an economic system with only a small amount of government control, in which prices and earnings are decided by the level of demand for, and production of, goods and services:

a free-market economy

(Definition of “free market” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"free market" in Business English

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free marketnoun [ C ]

uk us ECONOMICS

an economic system based on supply and demand, in which companies manage their own business, prices, profits, etc. without being controlled by government:

In a free market, businesses are challenged to provide better service, more quality and at lower prices.

(Definition of “free market” from the Cambridge Business English Dictionary © Cambridge University Press)