Audio Pronunciation: (mar·ket e·con·o·my)
Download Audio Pronunciation: market economy.mp3
- Plural: market economies
- The opposite of a market economy is a command economy and the combination of the two is a mixed economy.
- Also called:
- capitalist economy
- free enterprise
- laissez-faire economy
- private enterprise
- Word origin of “market” and “economy” – Online Etymology Dictionary: etymonline.com
- Dobbin, Frank. 2004. The New Economic Sociology: A Reader. Princeton, NJ: Princeton University Press.
- Ensminger, Jean, ed. 2002. Theory in Economic Anthropology. Walnut Creek, CA: AltaMira Press.
- Guillén, Mauro F., Randall Collins, Paula England, and Marshall W. Meyer, eds. 2002. The New Economic Sociology: Developments in an Emerging Field. New York: Russell Sage Foundation.
- Smelser, Neil J., and Richard Swedberg, eds. 2005. The Handbook of Economic Sociology. 2nd ed. Princeton, NJ: Princeton University Press.
- Steiner, Philippe. 2011. Durkheim and the Birth of Economic Sociology. Princeton, NJ: Princeton University Press.
- Swedberg, Richard. 1998. Max Weber and the Idea of Economic Sociology. Princeton, NJ: Princeton University Press.
- allocation of resources
- division of labor
- economic system
- market economy
- market exchange
- reciprocal exchange
- subsistence economy
Macmillan. (N.d.) Macmillan Dictionary. (https://www.macmillandictionary.com/).
Merriam-Webster. (N.d.) Merriam-Webster Dictionary. (http://www.merriam-webster.com/).
Oxford University Press. (N.d.) Oxford Dictionaries. (https://www.oxforddictionaries.com/).
Random House Webster’s College Dictionary. 1997. New York: Random House.
Ravelli, Bruce, and Michelle Webber. 2016. Exploring Sociology: A Canadian Perspective. 3rd ed. Toronto: Pearson.
Scott, John, and Gordon Marshall. 2005. A Dictionary of Sociology. New York: Oxford University Press.
Stewart, Paul, and Johan Zaaiman, eds. 2015. Sociology: A Concise South African Introduction. Cape Town: Juta.
Wikipedia contributors. (N.d.) Wiktionary, The Free Dictionary. Wikimedia Foundation. (http://en.wiktionary.org).
How to Cite the Definition of Market Economy
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2013. “market economy.” In Open Education Sociology Dictionary. Retrieved January 21, 2019 (https://sociologydictionary.org/market-economy/).
APA – American Psychological Association (6th edition)
market economy. (2013). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/market-economy/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2013. “market economy.” In Open Education Sociology Dictionary. Accessed January 21, 2019. https://sociologydictionary.org/market-economy/.
MLA – Modern Language Association (7th edition)
“market economy.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2013. Web. 21 Jan. 2019. <https://sociologydictionary.org/market-economy/>.