검색
Market economy
01
시장 경제, 마켓 경제
an economic system in which private businesses determine production, prices, and salaries not the government
Example
A market economy allows businesses to operate based on supply and demand without government interference in pricing.
In a market economy, consumers have the freedom to choose among competing products and services.
The transition to a market economy in Eastern Europe led to significant economic reforms and privatization.
