GEMET
General
Multilingual
Environmental
Thesaurus
market economy
Definition

A mixed economy that relies heavily on markets to answer the three basic questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, market-oriented economy is much more descriptive of how the economy is structured.

Related terms
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Scope note

Scope note is not available.

Concept URL: http://www.eionet.europa.eu/gemet/concept/5061