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LSDefine

Simple English definitions for legal terms

free enterprise

Read a random definition: cooperative federalism

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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OrangeThing
14:58
Just deposited at UT Law
OrangeThing
14:59
It's been fun. Met a lot of great people here, most of whom I don't speak to anymore after the dox. No hard feelings to them really. Everyone else, good luck with the rest of the cycle
ParallelAgreeableOrangutan
15:01
@hcarralero2005: UGA was a mess this cycle. It's not you, it's them
15:02
i'm wondering if i should do a seat deposit at hofstra- i'm waiting on 10 plus schools still
15:06
when's it due
15:06
4/15
15:07
shit it's a pretty good chunk of money I'd def deposit but not till the day before
Fo tee five minutes till Fo pm
15:34
it's conditional tho unfortunately
15:35
hell nah what are the condiitions
MrThickRopes
15:50
WAVES TN?
MrThickRopes
15:50
WAVES FO PM?
none, they hate us
MrThickRopes
15:59
fucks
MrThickRopes
15:59
I need al a bama
CheeseIsMyLoveLanguage
16:01
Is anyone else feeling weighed down by the idea of taking on debt or making a big move while the economy is so uncertain?
MrThickRopes
16:03
bro think ima pay off my loans
16:04
mf you better collections is no joke
CheeseIsMyLoveLanguage
16:05
I guess there's always that route! 😂
[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
18:10
safety
18:56
Ughhhhhhhhhh
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