Final answer:
In the private enterprise system, businesses are indeed primarily responsible for providing the goods and services required by society. Specialization and scarcity are fundamental concepts in this economic system, and the government partners with the business sector to ensure fair practices and provide public services.
Step-by-step explanation:
In a private enterprise system, it is indeed true that businesses are primarily responsible for supplying the goods and services needed by society. In such a system, scarcity is a key economic concept, indicating a situation where the wants for goods and services surpass the supply available. To alleviate this and meet market demands, businesses and workers often engage in specialization, where they focus on certain tasks or products where they have an edge or expertise.
The private enterprise system is supported by government in various roles, including regulation to foster competition, consumer protection, and promotion of national goals. The United States exemplifies this partnership between the democratic government and the capitalist economy, with businesses providing private goods like food, clothing, and housing. However, government interventions ensure fair market practices and provide certain public goods and services. This synergy aims at maintaining a balance between freedom of business operations and the welfare and interests of the general public.