Definition of private enterprise noun from the Oxford Advanced Learner's Dictionary


private enterprise

BrE BrE//ˌpraɪvət ˈentəpraɪz//
; NAmE NAmE//ˌpraɪvət ˈentərpraɪz//
[uncountable] Economy
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the economic system in which industry or business is owned by independent companies or private people and is not controlled by the government compare free enterprise See related entries: Economy
See the Oxford Advanced American Dictionary entry: private enterprise