市し場じょう経けい済ざい

noun

market economy

An economic system where prices and production are determined by supply and demand rather than central planning.

• 市し場じょう経けい済ざいでは、価か格かくは需じゅ要ようと供きょう給きゅうによって決きまる。

  In a market economy, prices are determined by supply and demand.