| 单词 | free-market economy |
| 释义 | free-market economy An economy in which a substantial majority of economic activity is organized through free markets, in which the parties choose the quantities and prices traded without central direction. This is contrasted with a centrally planned economy, in which a substantial majority of economic activity is carried on through central directions to people and firms as to what they must buy and sell, and at what prices. Very few if any economies are either totally free-market-based or centrally planned; most have substantial elements of each. The most laissez-faire economies have large public sectors, and the most planned economies, such as the former Soviet Union, usually have a free market in fresh fruit and vegetables grown on small plots. Most real world economies fall somewhere between the extremes, with substantial elements of both types of economic organization. |
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