Definition, Meaning & Synonyms
free-enterprise
noun
/ˈfriː ˌɛn.tərˈpraɪz/
Definition
An economic system where private businesses operate in competition and largely free from state control.
Examples
- In a free-enterprise system, success is determined by supply and demand.
- Many believe that free-enterprise fosters innovation and economic growth.
Meaning
Free enterprise allows individuals and businesses to create, manage, and operate economic activities with minimal government intervention.
Synonyms
- Capitalism
- Free market
- Private enterprise
