free market
noun
plural free markets
: an economic system in which prices are based on competition among private businesses and are not controlled or regulated by a government : a market (see market entry 1 sense 3a) operating by free competition
… the free market works best when businesses compete to provide the best services …—Chris Tomlinson
A free market, technically, requires no government intervention, which is why capitalists usually land on the right of the political spectrum. In America, the government regulates businesses for reasons of social welfare and public safety …, so we don't operate in a truly free market.—Carolyn Twersky
—often hyphenated when used before another nounfree-market competition
free-market principles
One of the basic premises of the free-market system is that actors are free to buy from or sell to a variety of other actors.—Barry C. Lynn
Cite this Entry
“Free market.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/free%20market. Accessed 27 Oct. 2026.
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