市场经济 shìchǎngjīngjì market economy
How to remember 市场经济: 市 market + 场 measure word for games and performances + 经 go through + 济 bring relief = market economy.
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How it is used
- Market economy - 中国实行社会主义市场经济 (Zhōngguó shíxíng shèhuìzhǔyì shìchǎng jīngjì) China practices a socialist market economy.
- Standard economics/policy term, contrasted with 计划经济 (jìhuà jīngjì, planned economy).
- A fixed compound; refers to the system where prices and production are driven by supply and demand.