free enterprise

Definition of free enterprise

n.	1.	an economic system having predominantly private ownership of the means of production, and relying chiefly on market forces to allocate goods and resources and to determine prices, and having a minimum of governmental interference in economic decisions; also, the political doctrine advocating such a system as the economic system of a country.
	2.	The conduct of business according to the principles of the free enterprise doctrine; the conduct of economic activity without governmental interference.

Related Words

autarky, bimetallism, bourgeois, capitalism, capitalist, capitalistic system, economic self-sufficiency, finance capitalism, free competition, free economy, free trade, free-enterprise economy, free-enterprise system, governmentalism, individualism, individualistic, isolationism, laissez-aller, laissez-faire, laissez-faireism, let-alone policy, let-alone principle, liberalism, line, localism, managed currency, noninterference, nonintervention, nonsocialistic, nullification, party line, party principle, planned economy, policy, polity, position, price supports, private enterprise, private ownership, private sector, private-enterprise, protection, protectionism, public policy, pump-priming, rugged individualism, sectionalism, self-regulating market, state capitalism

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