I'll top that and give you six.
1. Owning private property is one of the most basic features of the free enterprise system.
2. Individuals and businesses in the United States (US) are free to enter into contracts. Whether written or oral, contracts are legally binding agreements to buy and sell goods.
3. Individuals in the US are free to make personal choices and communicate those choices through the price system. As shoppers, consumers cast "dollar votes" which help producers determine what products to buy.
4. Individuals in the us are free to engage in free enterprise and competition. That is, they are free to choose where they will work, to open their own business, if they so desire, and to choose the type and quantity of goods or services they will produce.
5. According to famous economist, Adam Smith, self-interest is the force that directs the actions of individuals and businesses. In the US, individuals are free to look after their own self-interest.
6. The American economic system is relatively free from government interference.
Hope this helps. ----Shawn
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.
No: there is plenty of state support for companies. And most people have to work for a wage, and so are not free.
1800's
So-called free enterprise is concerned with making profits.
the potential profit
there are four components of the free enterprise system which include: competition, the pursuit of profit, private property and the right to choose.
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
The United States is a free enterprise system.
Private ownership individual initiative profit competition
private ownership, individual initiative, profit, and competition
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.
Free Enterprise System
It has a free enterprise or "capitalistic" economic system.
# Private ownership # individual initiative, # profit # competition
So-called free enterprise is concerned with making profits.
It is a persOn who work For enterprise
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.