Ask Question
20 May, 17:51

What are aspects of a free-enterprise system? Check all that apply.

Private ownership of property is severely restricted.

The government has a lot of power and influence.

There are few limits on the use of private property.

Consumers make all of their economic choices.

Producers make all of their economic choices.

+1
Answers (2)
  1. 20 May, 18:00
    0
    These are the right options:

    - There are few limits on the use of private property.

    - Consumers make all of their economic choices.

    - Producers make all of their economic choices.
  2. 20 May, 18:04
    0
    The aspects of a free-enterprise system are:

    - There are few limits on the use of private property.

    - Consumers make all of their economic choices.

    - Producers make all of their economic choices.

    Explanation:

    The free enterprise system or free market system is an economic system in which the prices of goods and services are achieved exclusively by the mutual interaction of sellers and buyers or producers and consumers. By definition, in the free market, sellers and buyers do not force or deceive each other, nor are they forced by a third party. The aggregate effects of individual decisions are described by the laws of supply and demand.

    Free markets are in stark opposition to planned economies, where governments directly or indirectly regulate prices and supplies, planning distribution among consumers based on their objectives. They can distribute goods according to needs or favor those who produce more, thereby providing incentives.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What are aspects of a free-enterprise system? Check all that apply. Private ownership of property is severely restricted. The government ...” in 📘 History if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers