free enterprise (B2)
noun phrase
Pronunciation: ˌfriː ˈɛntərˌpraɪz
Definition
An economic system in which private individuals or businesses own capital goods, and the production of goods and services is determined by demand in the market, with minimal government intervention.
Examples
The country's transition to free enterprise led to a surge in new businesses.
Supporters argue that free enterprise fosters innovation and economic growth.
Critics worry that unchecked free enterprise can lead to income inequality.
How to Use free enterprise
- free enterprise system (collocation)
- A system characterized by private ownership and market-driven economic activity. — "The country's success was attributed to its robust free enterprise system."
Synonyms of free enterprise
Words with a similar meaning to free enterprise:
Antonyms of free enterprise
Words with the opposite meaning to free enterprise:
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