What is another word for free-enterprise system?
Pronunciation: [fɹˈiːˈɛntəpɹˌa͡ɪz sˈɪstəm] (IPA) 
The free-enterprise system, also known as capitalism, is an economic system that is based on free markets and private property rights. In this system, individuals and businesses are free to produce goods and services and to exchange them in the marketplace. However, there are many synonyms for the term free-enterprise system that are used in different parts of the world. For example, in Europe, the term market economy is often used to refer to the same system. In the United States, the term free market system is often used, while in Japan, the term laissez-faire capitalism is used. Other terms that are used include private enterprise, entrepreneurial capitalism, and free-market capitalism.
