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Market economy   /mˈɑrkət ɪkˈɑnəmi/   Listen
Market economy

noun
1.
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.  Antonym: non-market economy.



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"Market economy" Quotes from Famous Books



... extremely poor country by European standards, Albania is making the difficult transition to a more open-market economy. The economy rebounded in 1993-95 after a severe depression accompanying the collapse of the previous centrally planned system in 1990 and 1991. However, a weakening of government resolve to maintain stabilization policies in the election year of 1996 ...
— The 1998 CIA World Factbook • United States. Central Intelligence Agency.

... which is based on the close co-ordination of Member States' economic policies, on the internal market and on the definition of common objectives, and conducted in accordance with the principle of an open market economy with free competition. 2. Concurrently with the foregoing, and as provided in this Treaty and in accordance with the timetable and the procedures set out therein, these activities shall include the ...
— The Treaty of the European Union, Maastricht Treaty, 7th February, 1992 • European Union



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