What is meant by the American “free enterprise” systems? What are its advantages and dis-advantages?

Every time a person in the U.S. spends money buying goods and services, they are experiencing the free enterprise system. The price, the kind of goods and everything around this are all largely driven by business workers, and have no governmental influence except for a few restrictions. So the main regulator is effected by the supply and demand relationship and the decisions of businessmen.

The free enterprise system and the ideology that comes with it, is very similar to the “American Dream.”
 “From riches to rags”, “from the bottom to the top” is the biggest and most known mentality in the USA – it suggests that anyone, even the poorest people, can set up their own company and business and become rich, as long as they are willing to work hard. No matter what kind of job, as long as they are clever enough to make something new. But the reality looks slightly different, not everyone starts out under the same conditions. So those who are already rich have a huge advantage. Corruption and/or an influential background could influence your businesses success, as well as through competition.

For the consumer the competition is certainly a huge advantage. The consumer can choose what and where they buy their goods and this heightens the competition on market and between businesses, which leads to lower prices and better quality of goods.
Additionally, the free enterprise system provided economic growth, what caused higher wages and with-it a higher living standard for the U.S. citizen. On the other hand many people lost their jobs, because the companies try to minimize the production costs as much as there are able to. So the gap between rich and poor got even bigger.
 As there is no perfect economic system the free enterprise system certainly has it's downfalls, but in my opinion it is the most natural and efficient system with the most positive sides.