Question

Free enterprise is a blank system in which private business make independent decisions while in competition with other businesses and with limited government involvement
GPT 3.5
. This system allows for individual and economic freedom, as businesses are able to operate with minimal interference from the government. In a free enterprise system, businesses are motivated to innovate and improve their products and services in order to attract customers and stay competitive in the market. This competition ultimately benefits consumers by offering them a variety of choices and lower prices.

Related Questions

explain the importance of the following terms in the u.s. free enterprise system:a)profit motive, b)... Which of the following is an argument in favor of government regulation in a free-enterprise system?... ⦁ free enterprise – an _____________system in which private businesses make independent decisions wh... 10. Which is not one of the pillars of the Free Enterprise System? * 1 point A. Profit motive f...