What is another word for competitive system?
Pronunciation: [kəmpˈɛtɪtˌɪv sˈɪstəm] (IPA) 
A competitive system, also known as a free market system, refers to an economic structure in which businesses are allowed to compete freely and without government interference. There are several other terms that can be used interchangeably with a competitive system, such as capitalism, open market, or market economy. These terms all describe a system where businesses compete to attract consumers through fair trade and open competition, with prices and wages determined by market forces rather than government intervention. In contrast, a system in which businesses are heavily regulated and controlled by the government is known as a command economy or socialism. Overall, the synonyms for a competitive system all describe an economy that is driven by the free exchange of goods and services and the pursuit of profit.
