the hypothetical fall of a body such that the only force acting upon it is that of gravity.
2.
the part of a parachute jump that precedes the opening of the parachute.
3.
a decline, especially a sudden or rapid decline, as in value or prestige, that appears to be endless or bottomless: The economy was in a free fall all winter.
In physics, the motion of a body being acted upon only by gravity. A satellite in orbit is in free fall, as is a skydiver (if we neglect the effects of air resistance).
Note: During free fall, objects are said to be weightless.