free market JUST WRITTEN FOR YOU
/ˈfriː ˈmɑːrkɪt/ · free mar ket
noun
- Any market in which trade is unregulated by government; an economic system free from government intervention. The economist advocated for a free market to stimulate economic growth.
noun
- A system in which the laws of supply and demand determine prices and the distribution of goods and services. The company operated in a free market, responding to changes in consumer demand.
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Did you know? The concept of a free market has been influential in shaping modern economic thought, with thinkers such as Adam Smith and Milton Friedman advocating for its principles.