Question

Describe how the U.S. private enterprise economy works

Answer 1

As an economic system, private enterprise is characterized by competition, open markets, private ownership, and private initiative. Producers take production initiative on the basis of price and profit-and-loss signals essentially given by consumers. ... Private enterprise is open to all comers.

Answer 2

Answer: Go ahead and copy and paste

Explanation: As an economic system, private enterprise is characterized by competition, open markets, private ownership, and private initiative. Producers take production initiative on the basis of price and profit-and-loss signals essentially given by consumers.