Private enterprise
Definitions
A business or industry that is owned, managed, and operated by individuals or private companies rather than the government.
The system of economic activity in which businesses are owned and operated by private individuals for profit.
Examples
The government is encouraging private enterprise to invest in renewable energy projects.
Many economists argue that private enterprise is the primary engine of innovation and economic growth.
Synonyms
Free enterprise Private sector Market economy Capitalism Commercial industry
Antonyms
Public sector State ownership Government enterprise Public enterprise Planned economy