(しじょうけいざい)

しじょうけいざい
noun
market economy
economicspolitics
1. market economy
an economic system in which prices and production are determined by supply and demand rather than central planning
日本(にほん)市場経済(しじょうけいざい)(くに)だ。
Japan is a market economy country.
In a market economy, supply and demand determine prices.
その(くに)計画経済(けいかくけいざい)から市場経済(しじょうけいざい)移行(いこう)(すす)めている
That country is transitioning from a planned economy to a market economy.

Composed of 市場(しじょう) (market) + 経済(けいざい) (economy). A fundamental economics term frequently encountered in news, textbooks, and political discussions.

Common collocations

Similar words

  • 計画経済(けいかくけいざい): planned economy — an economy directed by government control, the opposite system
  • 資本主義(しほんしゅぎ): capitalism — the broader ideological framework that includes market economies
  • 自由経済(じゆうけいざい): free economy — emphasizes the absence of government interference