he major features of the U.S. free enterprise system include:A.many companies competing for customers.B.strict limits on the types of goods available.C.economic decisions motivated by fairness.D.government control over economic decisions.
Question
he major features of the U.S. free enterprise system include:A.many companies competing for customers.B.strict limits on the types of goods available.C.economic decisions motivated by fairness.D.government control over economic decisions.
Solution
The major features of the U.S. free enterprise system include:
A. Many companies competing for customers. This is a key feature of a free enterprise system, where multiple businesses are allowed to operate and compete for the same customer base. This competition helps to drive innovation and improve products and services.
B. Strict limits on the types of goods available. This is not a feature of a free enterprise system. In fact, the opposite is true. A free enterprise system encourages a wide variety of goods and services to be available as businesses try to meet the diverse needs and wants of consumers.
C. Economic decisions motivated by fairness. While fairness can be a goal in a free enterprise system, it is not a defining feature. Economic decisions in a free enterprise system are primarily driven by the pursuit of profit.
D. Government control over economic decisions. This is not a feature of a free enterprise system. In a free enterprise system, businesses and consumers make their own economic decisions with minimal government intervention.
So, the major features of the U.S. free enterprise system are many companies competing for customers and economic decisions being made with minimal government intervention.
Similar Questions
One of the key characteristics of the U.S. free enterprise system is:A.limited competition between large businesses in each industry.B.governments deciding which goods will be produced.C.businesses making decisions based on the profit motive.D.strict limits on the kinds of products available to consumers.
A free enterprise system is a type of economy that:A.focuses on producing and selling goods in local communities.B.ensures that all citizens have jobs and places to live.C.strictly controls corporations to protect consumers.D.prevents governments from interfering with businesses.
Which idea is an important element of the U.S. free enterprise system?A.It is wrong for companies to compete against each other.B.It is wrong for the government to control the economy.C.It is wrong for businesses to pursue maximum profits.D.It is wrong for consumers to freely buy and sell products.
In a free enterprise system, the government is expected to:A.control important industries such as pharmaceuticals.B.determine the prices for most consumer goods.C.settle legal disagreements between businesses.D.pay entrepreneurs to start innovative companies.
A free enterprise system is also called ____________ or a market economyResponsescapitalismcapitalisma mixed economya mixed economycommunismcommunisma dictatorship
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