free-market
|free/market|
🇺🇸
/ˈfriː ˈmɑːrkɪt/
🇬🇧
/ˈfriː ˈmɑːkɪt/
unregulated economic system
Etymology
'free-market' originates from the combination of 'free' and 'market', where 'free' meant 'not under the control or in the power of another' and 'market' referred to 'a place where goods are bought and sold'.
'free-market' evolved from the concept of 'free trade' in the 18th century, emphasizing minimal government intervention in economic activities.
Initially, it meant 'a market free from government intervention', but over time it evolved to represent a broader economic philosophy advocating for minimal regulation.
Meanings by Part of Speech
Adjective 1
an economic system in which prices are determined by unrestricted competition between privately owned businesses.
The country adopted a free-market approach to boost its economy.
Synonyms
Antonyms
Last updated: 2025/01/11 11:45