Final answer:
A market economy is the system where individual citizens and businesses determine prices with minimal government intervention.
Step-by-step explanation:
The economic system in which prices are determined solely by the country's individual citizens and businesses, and where the government maintains a laissez-faire attitude is known as a market economy. In a market economy, the primary decisions about what to produce, how to produce, and for whom to produce are made by individuals and private firms. This is in contrast to a command economy, where such decisions are made by government officials, or a mixed economy, which incorporates elements of both market and command economies.