noun ·Rare ·Advanced level

Definitions

Noun

1. 1
   An economy in which goods and services are exchanged in a market, as opposed to a state-controlled economy.
2. 2
   an economy that relies chiefly on market forces to allocate goods and resources and to determine prices wordnet

Synonyms

All synonyms

capitalismcapitalist economyeconomy relatedenterprise economyfree enterprisefree enterprise system

Antonyms

All antonyms

nonmarkettraditional economycentral planningcentralized planning