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Discover Ludwig"open market" is correct and can be used in written English.
You can use it to refer to a setting where goods and services are bought and sold with minimum government intervention. For example, "The government has recently been encouraging businesses to operate in the open market instead of through state-controlled enterprises."
Dictionary
open market
noun
A competitive market where buyers and sellers can operate without restrictions.
Exact(60)
The Federal Open Market Committee has spoken.
Would he rather test the open market?
This is an open market".
Open Market HomeBuy was different.
"It's not on the open market yet".
See equity, open market operations, bonds.
He was free to hit the open market.
And time is about to hit the open market.
It's like an open market with open options," she said.
Would the Yankees dare him to test the open market?
The rest are let on the open market.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com