Free Enterprise Economy: Definition & Examples
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What is a free enterprise economy?
An economic system with few government restrictions on business activities and ownership.
What are the goals of a free enterprise economy?
Freedom, efficiency, justice, stability, security, and growth.
What are the key features of a free enterprise economy?
Owning private property, entering into contracts, making personal choices, engaging in free enterprise and competition, and self-interest.
A free enterprise economy limits intervention from _____.
The government
What is a monopoly?
When there is only one option of a product or service for the consumer.