Question
Which of the following is characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market?
free trade
communism
free enterprise
mixed market economy
free trade
communism
free enterprise
mixed market economy
Answers
GPT-4o mini
The correct answer is **free enterprise**.
Free enterprise is characterized by private or corporate ownership of capital goods, where investments and the production of goods are determined by private decisions in a free market, rather than by state control.
Free enterprise is characterized by private or corporate ownership of capital goods, where investments and the production of goods are determined by private decisions in a free market, rather than by state control.