Want this question answered?
Entrepreneurs are important to the free enterprise system because their investments helped fund the industrial economy.
entrepreneurs
they can't make a profit
Anyone can own capital in a free enterprise system.
NO. Central Planning Committees only exist in planned economies, not free-enterprise capitalist economies. Production quotas are made by individual companies in capitalist economies.
No: there is plenty of state support for companies. And most people have to work for a wage, and so are not free.
You probably live in a country that has a capitalist economy, to which, free enterprise is the back bone. If that's the case, the more you know the better off you'll be.
free enterprise system!!
Yes No, Australia has a mixed economy with many of the feature of a capitalist system such as a free enterprise system but also a government opperated social security system that is paid for out of taxation. The fact is that there is no such thing as a capitalist country in the world.
The UK is capitalist (class ownership, wages system, production for sale), but with a fair amount of state interference.
A capitalist system involves people working for themselves in order to make a profit. A capitalist government usually believes in rare government intervention, low taxes on businesses, promoting privatisation and encouraging foreign investment.
Capitalist countries rely on competition between businesses to set fair prices for goods.