Free Enterprise System

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

characteristics of free enterprise

The system has four characteristics: economic freedom, voluntary exchange, private property, and the profit motive. The free enterprise system may also be referenced as capitalism or the free market system.

economic system

Economic systems are organized sets of procedures used within communities or between communities to govern the production and distribution of goods and services.

free enterprise

a free enterprise economy or system is the same as a market economy. In a market economy, individuals depend on supply, demand, and prices to determine the answers to the four economic questions of "what to produce," "how to produce," "how much to produce," and "for whom to produce."


Set pelajaran terkait

Chapter 30: Atraumatic Care of Children and Families

View Set

Quiz 1 Which bone is not part of a coxal bone (os coxa)?

View Set

French 3 Ch. 2 - Le monde du travail

View Set