Meaning of FREE ENTERPRISE in English

FREE ENTERPRISE

noun

1. : an economic system in which primary reliance is placed upon private business operating in competitive markets to satisfy consumer demands and to maintain equilibrium in the national economy and in which government action in this respect is restricted to protecting the rights of individuals rather than acting as a directing economic force

2. : a business enterprise operating under free enterprise

Webster's New International English Dictionary.      Новый международный словарь английского языка Webster.