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What is another word for free economy?

Pronunciation: [fɹˈiː ɪkˈɒnəmi] (IPA)

A free economy refers to an economic system where the government does not interfere with the functioning of the market mechanisms, allowing individuals and businesses to operate in a free and competitive environment. This type of economy is also known as a market economy, laissez-faire economy, capitalist economy, or free-market economy. These terms all indicate a system where economic decisions are made by individuals and businesses rather than by government intervention. In a free economy, market forces guide production, pricing, and distribution, setting the prices and allocation of goods and services based on supply and demand. This results in maximum efficiency and productivity in the economy.
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Synonyms for Free economy:

What are the hypernyms for Free economy?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Famous quotes with Free economy

  • President Obama insists he's a free-market guy. But you have to wonder whether he understands how a free economy really works.
    Fred Barnes
  • A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
    Milton Friedman
  • A free economy is as essential to society as democratic political institutions. A strong market-based economy is the fertile ground for democratic freedoms that we think are important.
    Lee R. Raymond
  • A major source of objection to a free economy is precisely that it … gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
    Milton Friedman
  • He’d gone to Walden in the hope of achievement. There, of course, he failed because in a free economy industrialists consider that freedom is the privilege to be stupid without penalty. In other than free economies, of course, stupidity is held to be the duty of administrators. But Hoddan now believed himself in the fascinating situation of having knowledge and abilities which were needed by people who knew their need.
    Murray Leinster

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