free market

an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies.

free-market, adjective
free marketeer, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
free market
a.  an economic system that allows supply and demand to regulate prices, wages, etc, rather than government policy
 b.  (as modifier): a free-market economy

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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American Heritage
Cultural Dictionary

free market definition

The production and exchange of goods and services without interference from the government or from monopolies.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Compare that to buying an airline ticket, where the free market reigns.
If only in a free market, the total of cost renewable energy cost were lower
  then nonrenewable.
The free market inevitably funds those technological developments since the
  productivity improvements result in profits.
The people who deny it subscribe to the belief that the free market can solve
  every problem.
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