market economy Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “market economy” in the English Dictionary

(Definition of market economy from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"market economy" in American English

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market economynoun [C]

 us   /ˈmɑr·kɪt ɪˈkɑ·nə·mi/
social studies an ​economicsystem 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)

"market economy" in Business English

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market economynoun [C]

uk   us   (also free economy) ECONOMICS, POLITICS
an ​economicsystem in which ​companiesmanage their own ​business, ​profits, etc. and the ​supply and ​price of ​goods are decided according to how much ​demand there is for them, not by the ​government: In a ​marketeconomy the ​consumer is ​king. The ​company has played a ​leading role in helping to educate ​managers from the emergingmarketeconomies of Eastern ​Europe.
(Definition of market economy from the Cambridge Business English Dictionary © Cambridge University Press)
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