an economic system in which industry and commerce are run by private enterprise within limits set by the government to ensure equality of opportunity and social and environmental responsibility
b.
(as modifier)
a social-market economy
Examples of 'social market' in a sentence
social market
Any viable, well-ordered social market economy needs effective trade unions.
Times, Sunday Times (2018)
She declared that there would be a new type of 'social market economy'.
Times, Sunday Times (2006)
It states that 'any willing provider can provide services ... ensuring effective competition stimulates innovation and improvements, and increases productivity within a social market'.
Times, Sunday Times (2010)
Germany's 'social market economy' would boost growth and jobs, she said, while guaranteeing social welfare and greater equality.
social market in British English