market economy
noun/ˌmɑːkɪt ɪˈkɒnəmi/
/ˌmɑːrkɪt ɪˈkɑːnəmi/
- an economic system in which salaries and the prices of goods are determined by supply and demand rather than by the state
- emerging market economies
- The process of transition to a market economy led to major changes.
Check pronunciation:
market economy