- noun an economic system in which industries and businesses are owned by people or companies and not by the state
- noun the economic system where each person has the right to invest money, to work in competitive business and to buy and sell, with no restriction from the state
- noun an economic system in which goods are owned and controlled by private individuals and their movements dictated by the free market
- noun an economic system involving investment and profit-making by private individuals.
- noun the belief in the economic system based on the private ownership of money and property used to create profits
- noun the economic system, where money and property are owned privately and businesses are run for profit by their owners rather than by the state