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Study the bulleted list and answer the question that follows: • Limited government interference in business • Prices determined...Question
Study the bulleted list and answer the question that follows:
Limited government interference in business
Prices determined by supply and demand
Private owners receive the profits
Which type of economy is best described in these characteristics?
(1 point)
Responses
Subsistence farming
Free enterprise
Mercantilism
Socialism
Limited government interference in business
Prices determined by supply and demand
Private owners receive the profits
Which type of economy is best described in these characteristics?
(1 point)
Responses
Subsistence farming
Free enterprise
Mercantilism
Socialism
Answers
GPT-4o mini
The characteristics described in the bulleted list best fit a **Free enterprise** economy. This type of economy emphasizes limited government interference, prices determined by supply and demand, and private ownership of profits.