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In a free enterprise system, three key economic freedoms include the freedom of choice, which allows individuals to make decisions about what to produce, sell, and purchase; the freedom to compete, enabling businesses to enter markets and compete for customers without excessive restrictions; and the freedom to own private property, which grants individuals and businesses the right to acquire, use, and transfer assets as they see fit. These freedoms foster innovation, efficiency, and economic growth by encouraging entrepreneurship and consumer choice.
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How is a communist economic system different from a enterprise system?
A communist economic system is related to a whole country, while an enterprise system is restricted to that enterprise and it isn't a communist system because all employees can drive their own lives.
Is the free enterprise system is an economic system not a political system?
True
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.
The circular flow model of pure capitalism shows how a economic system answers the basic economic questions?
Free Enterprise A+
What type of economic system does Belgium have?
They have a Private Enterprise
The free enterprise system is an economic system not a political system?
true
Is the free enterprise system is an economic system not a political system?
True
How is a communist economic system different from a enterprise system?
A communist economic system is related to a whole country, while an enterprise system is restricted to that enterprise and it isn't a communist system because all employees can drive their own lives.
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.
The circular flow model of pure capitalism shows how a economic system answers the basic economic questions?
Free Enterprise A+
What freedoms do business and consumers have in a free enterprise system?
Both of them are free to start a new business
Does Mexico have a free enterprise socialist or communist?
It has a free enterprise or "capitalistic" economic system.
What type of economic system does Belgium have?
They have a Private Enterprise
What freedoms do business owners and consumers have in a free enterprise system?
Both of them are free to start a new business
What is a pure capitalistic system?
A capitalistic system is an economic system known as a free enterprise system.
What is pure capitalistic system?
A capitalistic system is an economic system known as a free enterprise system.
2 In a free-enterprise economic system unlike a command system economic decisions are made primarily by?
Consumers.
