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A free-enterprise economic system allows for the private ownership for most of the means of production within a nation. Modern day governments place a degree of control over this economic system by having laws to regulate production and trade. For example, a government can pass laws to regulate minimum wages, safety of the workplace, corporate taxes, inspections concerning quality and tariffs. A free enterprise also allows for different types of worker unions. These can be for factory workers to professional unions in the entertainment and sports industries. In such a system the government recognizes and can even promote enterprises. This type of system exists because workers, government and industry believe such a system benefits all involved.
Wiki User
∙ 9y ago
Wiki User
∙ 11y agostart your own buisness
own private property
right to vote
Wiki User
∙ 12y agoBecause without the free enterpise system America would have no freedom inside their buissness and would be told how to sell it for how much and onkly sell certain things.
Wiki User
∙ 9y agoThe free enterprise system means that Americans can privately own the means of production.
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A sentence with free enterprise system?
The United States is a free enterprise system.
How is a communist economic system different from a free enterprise system?
Communism has no classes and no money, hence no economics. So-called free enterprise has a tiny number of people who own the means of production and exploit the rest of the population.
What would have the same meaning as capitalism or a market economy?
Free Enterprise System
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
What is the role of an entrepreneur in a free enterprise system?
It is a persOn who work For enterprise
What does free enterprise mean for Americans?
It means businesses are governed by the laws of supply and demand.
A sentence with free enterprise system?
The United States is a free enterprise system.
Why did some Americans think that big businesses threatened the free enterprise system?
Too nuch noney
How is a communist economic system different from a free enterprise system?
Communism has no classes and no money, hence no economics. So-called free enterprise has a tiny number of people who own the means of production and exploit the rest of the population.
What is a free enterprise system mean?
The Free Enterprise System is based on the right of the individual to run a business for profit with a minimum of government control. The characteristics of a free enterprise system are freedom, competition, and private ownership.
What would have the same meaning as capitalism or a market economy?
Free Enterprise System
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
Does Mexico have a free enterprise socialist or communist?
It has a free enterprise or "capitalistic" economic system.
What economic system does South Korea has?
Free enterprise. They tried to copy what the Americans had, because they were saved by us so they could be democratic.
What are the goals of free enterprise system?
So-called free enterprise is concerned with making profits.
What is the role of an entrepreneur in a free enterprise system?
It is a persOn who work For enterprise
What economic system does the U.S. use?
Free Enterprise It is not Capitalism A Free Enterprise System is when you have the right to run a business to make a profit with limited interference from the government.
