free enterprise

free enterprise definition - business

free enterprise

An economic system where business is carried out without government intervention. Proponents contend that free enterprise maximizes consumer wealth by promoting the most efficient allocation of resources.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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