Question

which of the following is the guiding economic philosophy of the free enterprise system? socialism communism marxism capitalism

Answer 1

I think the correct answer from the choices listed above is the last option. Capitalism is the guiding economic philosophy of the free enterprise system. It is based on private property and free enterprise. Hope this answers the question. Have a nice day.

Answer 2

I believe the answer is: Capitalism

In capitalism, the economy is designed in a way to give as much freedom as it can to the private sectors in term of resource allocation and market competition. In this system, the government's role limited to maintaining regulation that prevent private organizations from cheating off one another.