economic system vs market economy
market economy vs economic systemeconomic system and market economy both are nouns.
| Word | Noun | Adjective | Verb | Adverb |
|---|---|---|---|---|
| economic system | Yes | No | No | No |
| market economy | Yes | No | No | No |
As nouns,
market economy is a hyponym of
economic system; that is, market economy is a
word with a more specific, narrower meaning than
economic system:
- economic system: the system of production and distribution and consumption
- market economy: an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Other hyponyms of economic system include
industrialism, free enterprise, laissez-faire economy, private enterprise, mixed economy, non-market economy, state capitalism, state socialism.
| economic system (noun) | market economy (noun) |
|---|---|
| the system of production and distribution and consumption | an economy that relies chiefly on market forces to allocate goods and resources and to determine prices |
Words related to "economic system"
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