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Market economy
/mˈɑːkɪt ɪkˈɒnəmi/
/mˈɑːɹkɪt ɪkˈɑːnəmi/
Market economy
[NOUN]1
an economic system in which private businesses determine production, prices, and salaries not the government
antonyms : non-market economy
Examples
1. Market economy was efficient.
2. It's the market economy.
3. In a market economy prices, higher prices signal higher activity.
4. So the market economy actually works in the politics of India.
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