Land, labor, capital, enterprise
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.
THE PRIVATE ENTERPRISE SYSTEM an economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Another name of it is Capitalism.
The United States is a free enterprise system.
idnetify factors in the united states that made it ideal for the free enterprise system
Land, labor, capital, enterprise
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
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.
private ownership, individual initiative, profit, and competition
# Private ownership # individual initiative, # profit # competition
THE PRIVATE ENTERPRISE SYSTEM an economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Another name of it is Capitalism.
The United States is a free enterprise system.
Free Enterprise
An enterprise system helps to improve the economy of an organization.
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.