The government writes and enforces some regulations on businesses to protect consumers against unfair practices or unsafe products. Why has the free enterprise system been modified to include some government intervention? Government intervention is needed to ensure fair competition and to protect the public safety.

In a mixed or modified free enterprise economy, people and businesses carry out their economic affairs freely, but are subject to some government intervention and regulation.

The United States is considered to have a modified free enterprise economy because its economy has characteristics of both free market economy and command economy. On the other hand the government intervention in economic activities is regulated .

In this page you can discover 15 synonyms, antonyms, idiomatic expressions, and related words for free-enterprise, like: capitalism, free competition, free economy, free-trade, free-enterprise economy, free-enterprise system, liberalism, open market, private enterprise, self-regulating market and free-market.

free-enterprise system

• liberalism.
• capitalism.
• free competition.
• free economy.
• free market.
• free-enterprise economy.
• open market.
• private enterprise.

Antonyms for Free enterprise: non-market economy.

an economy that relies chiefly on market forces to allocate goods and resources and to determine prices. Antonyms: socialist, socialistic. Synonyms: market economy, private enterprise, laissez-faire economy.

Free Enterprise is another term used to describe the American economy. In a free enterprise economy, competition is allowed to flourish with a minimum of government interference. People have the freedom to choose their occupation and their employer.

Among the most influential of the Enlightenment economists was Adam Smith, who argued for free enterprise in his famous book Wealth of Nations. Alexander Hamilton was America’s first Secretary of the Treasury and is thought of as the architect of the American economic system.