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What are the factors of production in an economic system?
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.
What type of system is free enterprise system?
Individuals are free to won and control the factors of production
What is a private enterprise system enterprise 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.
What are the Four basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
What are the four factors underlying the free enterprise system?
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
What are the factors of production in an economic system?
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.
What type of system is free enterprise system?
Individuals are free to won and control the factors of production
What is a private enterprise system enterprise 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.
What are four factors of free enterprise system?
private ownership, individual initiative, profit, and competition
What are the four factors that make up the free enterprise system?
# Private ownership # individual initiative, # profit # competition
What are basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
What are the basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
What are the Four basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
What is private enterprise 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.
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
What type of economic system does Belgium have?
They have a Private Enterprise
