Free Enterprise
Free market capitalism
Capitalism
mixed economy
communism
Individuals are free to won and control the factors of production
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
individuals are free to own and control the factors of production.
mixed economy
individuals are free to own and control the factors of production.
communism
Individuals are free to won and control the factors of production
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Factors of production.
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
True
truetrue
Factors of production are typically owned by individuals, businesses, or the government. Land is owned by individuals or governments, labor is owned by individuals, capital is owned by businesses or individuals, and entrepreneurship is typically owned by individuals who take the risk to start and run a business.