noun
an economic system in which private business operates in competition and largely free of state control.
adjective
not under the control or in the power of another; able to act or be done as one wishes.
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Free enterprise allows individuals to freely engage in economic activities without government interference.
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In a free enterprise system, people can start their own businesses and compete in the market.
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You gotta love the opportunities that come with free enterprise, man.
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The artist's creativity flourished in the free enterprise of his own mind.