from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The freedom of private businesses to operate competitively for profit with minimal government regulation.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. An economic system of business governed by the laws of supply and demand with minimal goverment interference, regulation, or subsidy
from the GNU version of the Collaborative International Dictionary of English
- n. 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.
- n. The conduct of business according to the principles of the free enterprise doctrine; the conduct of economic activity without governmental interference.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
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