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market economy
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market economy


It is the consumer who, through his or her purchases, has the ultimate say over the major economic decisions in a market economy.
Michael Mandelbaum  --  Democracy’s Good Name
  an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
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market economy market economies
Strongly Associated with:   planned economy
Notes:
Proponents or market economies think the infinite complexity of human desires as manifested in an economy are better optimized by millions of decision makers than by a central authority. However, they want government to make the market work. For example, government protects people from monopolies and pollution.
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  • It is the consumer who, through his or her purchases, has the ultimate say over the major economic decisions in a market economy.
    Michael Mandelbaum  --  Democracy’s Good Name
  • As a hub for Pakistan’s black-market economy, the city was filled with unsavory characters.
    Greg Mortenson & David Oliver Relin  --  Three Cups of Tea
  • There were some setbacks for women with the death of ideology and the rise of a market economy in the 1980s, and Chinese women still face challenges.
    Nicholas D. Kristof  --  Half the Sky
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Associated words [difficulty]:   market economy [9] , planned economy [8] , planned economy [8]
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Most commonly used in these subjects:   Public Policy & Politics, Business, History
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