Concept information
Preferred term
market economy
Type
-
Topic
Definition
-
An economic system in which goods and services are exchanged in a market free from government regulation or direction, and production and consumption of goods and services is driven by consumer demand and producer supply.
Source: NAL Thesaurus Staff
Type: Concept definition
Broader concept
Synonyms
- market economies
In other languages
-
Spanish
URI
https://lod.nal.usda.gov/nalt/130640
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