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Definition of Market economy
1. Noun. An economy that relies chiefly on market forces to allocate goods and resources and to determine prices.
Exact synonyms: Free Enterprise, Laissez-faire Economy, Private Enterprise
Specialized synonyms: Capitalism, Capitalist Economy
Generic synonyms: Economic System, Economy
Antonyms: Non-market Economy
Specialized synonyms: Capitalism, Capitalist Economy
Generic synonyms: Economic System, Economy
Antonyms: Non-market Economy
Definition of Market economy
1. Noun. An economy in which goods and services are exchanged in a free market, as opposed to a state-controlled or socialist economy; a capitalistic economy. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Market Economy
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