free enterprise

Definitions

An economic system in which private business operates in competition and largely free of state control.

A market economy where individuals and businesses have the liberty to buy, sell, and produce goods with minimal government intervention.

Examples

The country's economic growth is largely driven by the principles of free enterprise.

Many economists argue that free enterprise fosters innovation by encouraging healthy competition among businesses.

Synonyms

Laissez-faire capitalism Market economy Private enterprise Free market system Economic liberalism

Antonyms

Command economy Planned economy State socialism Centralized economic control Government-controlled market