Simple English definitions for legal terms
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Free enterprise is a system where people can make and sell things for money without the government telling them what to do. It's like a big competition where businesses try to make the best products and sell them for the best price. This is different from communism, where the government controls everything.
Free enterprise is a system of production and distribution that is conducted privately and with consent. It is usually done for profit in a competitive environment that is relatively free from government interference. This system is also known as capitalism.
In a free enterprise system, individuals and businesses are free to produce and sell goods and services as they see fit. They are also free to compete with one another for customers and profits. The government's role is limited to enforcing laws and regulations that protect consumers and ensure fair competition.
These examples illustrate how individuals and businesses in a free enterprise system are free to produce and sell goods and services as they see fit. They are also free to compete with one another for customers and profits. This competition helps to drive innovation and improve the quality of goods and services offered to consumers.