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market economy

DEFINITIONS OF: market economy

1

n an economy that relies chiefly on market forces to allocate goods and resources and to determine prices

Synonyms:
free enterprise, laissez-faire economy, private enterprise
Antonyms:
non-market economy
an economy that is not a market economy
Types:
capitalism, capitalist economy
an economic system based on private ownership of capital
venture capitalism
capitalism that invests in innovative enterprises (especially high technology) where the potential profits are large
Type of:
economic system, economy
the system of production and distribution and consumption
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