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
Both words can refer to an economic system with private companies and markets. „Kapitalismus“ is the broader term for an economic and social system with private ownership of the means of production. „Marktwirtschaft“, by contrast, emphasizes the regulation of production and prices through supply and demand.
In der Marktwirtschaft bestimmen Angebot und Nachfrage überwiegend die Preise.
In a market economy, prices are determined mainly by supply and demand.
Im Kapitalismus befinden sich die Produktionsmittel überwiegend in privatem Eigentum.
Under capitalism, the means of production are predominantly privately owned.
