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Define the concept of free enterprise. Explain how free enterprise and competition work together. Analyze the regulations that are placed on free enterprise.ng point for a full social studies lesson that includes instructional slides and activities. You can input any topic or standard (include the text from the standard). We cover all standards, including but not limited to NCSS and TEKS Pro-Tip: If you don't get results like you expected, you can try to reformulate the standard in simpler words.