Usually means: System allocating resources through prices.
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We found 3 dictionaries that define the word market mechanism:

General (1 matching dictionary)
  1. Market mechanism: Wikipedia, the Free Encyclopedia

Business (2 matching dictionaries)
  1. Market mechanism, Market mechanism: Deardorff's Glossary of International Economics

Definitions from Wikipedia (Market mechanism)

noun:  In economics, the market mechanism is a mechanism by which the use of money exchanged by buyers and sellers with an open and understood system of value and time trade-offs in a market tends to optimize distribution of goods and services in at least some ways.


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