market system
[/ˈmɑːrkɪt ˈsɪstəm/]
nounpl: market systems
sistema de mercado
1. An economic system based on supply and demand, where prices are determined by market forces rather than central planning or government control
The United States operates primarily under a market system where competition drives innovation.
Os Estados Unidos operam principalmente sob um sistema de mercado onde a competição impulsiona a inovação.
2. A network of buyers and sellers that interact to determine prices and allocate resources through voluntary exchange
The market system allows consumers to vote with their wallets for the products they prefer.
O sistema de mercado permite que os consumidores votem com suas carteiras pelos produtos que preferem.
3. An economy structured around free enterprise, private property rights, and capitalist principles
Developing countries are increasingly adopting market system principles to stimulate economic growth.
Os países em desenvolvimento estão adotando cada vez mais os princípios do sistema de mercado para estimular o crescimento econômico.
The term 'market system' is central to discussions of economic policy in both the USA and Brazil. In the United States, it represents the foundational economic philosophy, while in Brazil, it reflects the country's transition toward more liberal economic policies since the 1990s. The concept is widely taught in business schools and economics programs across both countries.
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