| 单词 | free enterprise |
| 释义 | free enterprise An economy in which the initiative for production and consumption decisions lies with individuals and companies. This is contrasted with a planned economy, in which initiative lies with the government. In any economy firms and individuals have to conform to rules set by the government; companies indeed owe their very existence to laws. Business in a ‘free market economy’ is subject to innumerable rules concerning health and safety, consumer protection, competition, control of land use, etc. It also has to pay taxes to finance the public sector. The rules, however, act only as constraints, and individuals and firms are free to make any choices consistent with the rules. |
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