| 1. | an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation. |
| 2. | the practice of free enterprise in an economy, or the right to practice it. |
| private enterprise n.
|
The freedom of private businesses to operate competitively for profit with minimal governmental regulation.
Business carried on for profit and not owned by the government; also, the system that discourages public ownership of business; the same as free enterprise. (See private sector.)
