Share This Article:

Economic Definition of market-based economy. Defined.

Offline Version: PDF

Term market-based 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 structure.


« market transaction | market-clearing price »


Alphabetical Reference to Over 2,000 Economic Terms