market economy
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market economy
An economic system in which the production of goods and prices are controlled by the free interaction of supply and demand in the market. The state intervenes little or not at all in economic activity.
Die soziale Marktwirtschaft versucht, die Vorteile einer freien Marktwirtschaft mit sozialem Ausgleich zu verbinden.
The social market economy tries to combine the advantages of a free market economy with social balance.
The word is made up of 'der Markt' (market) and 'die Wirtschaft' (economy). The 's' in the middle is a linking s that connects the two words. Literally, it describes an economy that is controlled by the market.
Die Prinzipien der Marktwirtschaft sind ein zentrales Thema im Wirtschaftsunterricht.
The principles of the market economy are a central topic in economics class.
'Marktwirtschaft' (market economy) is very often specified more precisely by adjectives. The most important and most common combination in the German context is 'soziale Marktwirtschaft' (social market economy), but 'freie Marktwirtschaft' (free market economy) is also a common term.
Das deutsche Wirtschaftssystem wird als soziale Marktwirtschaft bezeichnet.
The German economic system is described as a social market economy.
'Marktwirtschaft' (market economy) is a technical term from economics and politics. You mainly find it in specialist texts, news reports, and formal discussions about economic systems.
Der Professor erklärte die Vor- und Nachteile der Marktwirtschaft.
The professor explained the advantages and disadvantages of the market economy.
capitalism
'der Kapitalismus' and 'die Marktwirtschaft' are closely connected because in both, the market, meaning supply and demand, is important. 'die Marktwirtschaft' mainly describes how prices and production are controlled in an economy. 'der Kapitalismus' is broader and refers to an economic and social system in which private ownership of companies and means of production is also central. The words can be confused because capitalist countries usually have a market economy. More precisely: 'Marktwirtschaft' describes the market mechanism, while 'Kapitalismus' describes the larger system with private ownership.
In einer Marktwirtschaft ändern sich die Preise oft durch Angebot und Nachfrage.
In a market economy, prices often change because of supply and demand.
Greta kritisiert am Abend mit einem Freund den Kapitalismus und die Macht großer Firmen.
In the evening, Greta criticizes capitalism and the power of large companies with a friend.