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Free enterprise system
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Earn +20 ptsQ: Private ownership of businesses is a characteristic of what?
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Private ownership of business is a characteristic of?
capitalism
Ownership of private property is a characteristic of?
free enterpirse
What is the US economy based on which is the private ownership of farms and businesses?
Capitalism
Is the process of converting government-owned businesses to private ownership.?
privatization
What is the private ownership of businesses and control over resources?
pure capitalism
Is the process of converting government-owned businesses to private ownership?
privatization
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of?
a Market System
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of..........?
A market system.
An economic system in which the government owns major industries but allows private ownership of other businesses is called?
Socialism. Complete ownership by the state is Communism.
True or false A mixed economy is one that has government control of some businesses and private ownership of others?
true
What do socialists believe in regard to the ownership of businesses?
Socialist society won’t have businesses in the current sense. The land, factories, offices, etc will belong to all the people in common.
What are the four factors underlying the free enterprise system?
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
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