市場経済
shijō keizai
market economy
日本は市場経済の国です。
Japan is a market economy.
formal
An economic system where production and prices are determined by unrestricted competition between privately owned businesses.
市場経済では、需要と供給が価格を決定します。
In a market economy, supply and demand determine prices.
政府は市場経済を規制する法律を制定しています。
The government enacts laws to regulate the market economy.
Contrasts with 計画経済 (planned economy) where the state controls production.
Related Phrases
Pro Tip
Contrast with planned economy
Remember that 市場経済 relies on private ownership and market forces, while 計画経済 involves state-directed production.
Word Origin
市場 (market) + 経済 (economy). The term reflects the system's reliance on market mechanisms for resource allocation.
Usage Notes
Commonly used in academic, policy, and business contexts. The term emphasizes the role of markets over state intervention.
Word Breakdown
市場
market
noun経済
economy
noun和英辞典