Question

What are some characteristics of a free enterprise economy?

Answer 1

People often use the terms free enterprise, free market, or capitalism to describe the economic system of the United States. A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition

1. economic freedom
2. voluntary exchange
3. private property
4. the profit motive.

Answer 2

A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.

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