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LSDefine

Simple English definitions for legal terms

free enterprise

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A quick definition of free enterprise:

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.

A more thorough explanation:

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.

  • A small business owner opens a bakery and sells baked goods to customers in the local community. They are free to set their own prices and determine what products to sell.
  • A tech startup develops a new app and offers it for sale on the app store. They are free to market their product and compete with other app developers.
  • A farmer grows crops and sells them at a local farmers market. They are free to choose what crops to grow and how much to charge for them.

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.

free election | free entry, egress, and regress

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mushroomroundtop01
16:46
EPSTEIN PROGRAM TOO WOW UR AMAZING
cumsock
16:46
I thought that was an Epstein joke
@IrishDinosaur: proud of you champion :)
mushroomroundtop01
16:47
Nah its rllt their pi program
16:47
When I was applying I thought the same thing Mr Sock
jackfrost11770
16:47
YEAHHHHHH DINOOOO
how did @sleepytimeteabear get waitlisted from gtown and upenn with a 180
thanks guys, im fucking stoked. its my first decision so far
and from my alma mater :')
mushroomroundtop01
16:48
and thats such a huge decision too omg so happy for u
jackfrost11770
16:48
If I signed up for a Cornell lets talk thing but my train was 30 minutes late and now I defiantly can't show up is it alright if I just don't .... I don't want it to affect me lmfao
jackfrost11770
16:48
how many ppls usually show up to those things
<3 much love to yall. i gtg back to work now but thanks for celebrating w me
jackfrost11770
16:49
They have one every month don't they
i cant imagine cornell keeping track of who goes to the lets talk
i mean maybe?
jackfrost11770
16:50
I mean they asked for lsac number but yeah I don't imagine they specifically keep track? Gtown does tho ....
jackfrost11770
16:50
But gtown is special lmfao
jackfrost11770
16:50
In a bad way
16:51
Do you need camera on/mic on for those Lets Talk Cornell things? I kinda want to attend but I'm at work
jackfrost11770
16:51
I have no idea I've never been to one
jackfrost11770
16:51
Hence Idk what to expect even capacity wise
jackfrost11770
16:51
But I'm literally still 30 minutes from home and it's in 10 min so unless I join on my phone with no camera or mic then I cannot lmao
jackfrost11770
16:55
You know what if Cornell don't want me they don't me I'm not worrying myself over this
16:57
There was a Vandy wave today?
GodsPlanUltimately
16:57
@jackfrost11770: What a excellent mindset. Cornell must have poor taste
1. Kansas 196. Cornell
nope cornell can be 2.
cornell is incredibly based
our professors are sigmapilled goonmaxxers
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