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The phrase 'market system' is correct and usable in written English.
It can be used to refer to a system where goods and services are exchanged for money. For example: "The market system allows people to buy and sell goods and services in order to get what they need or want."
Exact(57)
The market system works well most of the time.
"He strongly believes in the market system," Mr. Rohatyn said.
Now, farmers are getting used to a market system.
"In prison there's always a black market system".
"It's a free market system," Ms. McCleery said.
"It's a free market system here," Mr. Isikaku said.
Architects can't buck the market system and shouldn't try.
The market system is highly integrated and competitive as the country relies heavily on imported food'".
It's supposedly a free market system, but it's not fair and it's not free.
The market system as it stands failed and needs to be fixed.
The Board of Trade operates under what is known as the "open outcry auction market" system.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com