The element of the free enterprise system most closely associated with Governor Abbott’s statement is limited government involvement in the economy. Abbott emphasizes the lack of a state income tax, reduced regulations, and a focus on creating a favorable environment for businesses and families to thrive, all of which align with the principles of limited government intervention in economic activities.
Use the quote to answer the question. “Businesses and families are moving to Texas because we provide an environment that allows people to succeed on their own terms. Texas offers a brand of freedom unlike any other state in America—we have no state income tax, we've cut…regulations, and we continue to invest in our young, diverse, and ever-growing workforce. We are committed to cultivating this thriving economic climate in the years to come to ensure that all Texans have the ability to achieve their dreams.” —Texas governor Greg Abbott (March 2022) Which element of the free enterprise system is most closely associated with Governor Abbott’s statement? (1 point) Responses effects of supply and demand on price stability effects of supply and demand on price stability increasing profit margins increasing profit margins ensuring global competition maintains consumer protection ensuring global competition maintains consumer protection limited government involvement in the economy
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