An Economic system in which businesses and individuals are largely free to produce, buy, and sell goods and services with minimal government intervention. Prices, production, and investment decisions are guided by Supply and demand and by Competition in the open Market, rather than being centrally planned. Free enterprise is closely related to Capitalism and a Free market, though in practice most countries that describe themselves as free-enterprise economies still maintain some level of regulation, such as securities laws, labor standards, and consumer protections, rather than a fully unregulated (Laissez-faire) system.
