Which statements describe a free enterprise system? Check all that apply.

1) Citizens can own property.

2) The government employs all workers.

3) Supply and demand drives production.

4) Consumers and producers make their own decisions.

5) Citizens can accumulate wealth.

6) The government sets prices and wages.

Question

Business

Mack

10 April, 08:39

Which statements describe a free enterprise system? Check all that apply.

1) Citizens can own property.

2) The government employs all workers.

3) Supply and demand drives production.

4) Consumers and producers make their own decisions.

5) Citizens can accumulate wealth.

6) The government sets prices and wages.

+3

Answers (1)

Know the Answer?

Rambo · Answer 1

1) Citizens can own property.

2) Supply and demand drives production.

3) Consumers and producers make their own decisions.

4) Citizens can accumulate wealth.

Explanation:

Free enterprise are the system where market determine price, product and services not the government. It completely free of government control. They could refer to legal support in certain cases, however, commercial activity are controlled by market and private parties. It is more of capitalism than consumerism. Free enterprises are worked under set of legal rules for commercial interaction. It is operated under competition.