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free enterprise |
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free enterpriseEconomic system where private capital is used in business with profits going to private companies and individuals. The government plays a relatively small role in providing goods and services, but it is responsible for upholding laws which protect rights to own property, and for maintaining a stable currency. In practice most economies, even capitalist ones (see capitalism), are mixed economies – a hybrid of free and command economies. The two largest free-market economies in the world are (1994) the USA and Japan, where the private sector provides about 70% of total output or GDP (gross domestic product) and the public sector only 30%. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The award recognizes "outstanding individuals who promote the American traditions of philanthropy, free-enterprise, and individual responsibility. The state-of-the-art plant, a joint venture between Davisco Foods and Land O'Lakes, is touted as the largest free-enterprise investment in the state's history. For example, the system is not in tune with the forces of the free-enterprise system. |
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