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Free Enterprise - PowerPoint PPT Presentation


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Free Enterprise. A system where resources are privately owned and decisions about production and distribution are made by voluntary exchange in the marketplace. Profit. Private enterprise. Freedom. Private property. Competition. Characteristics. Private Enterprise:

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Presentation Transcript
free enterprise

Free Enterprise

A system where resources are privately owned and decisions about production and distribution are made by voluntary exchange in the marketplace.

Profit

Private enterprise

Freedom

Private property

Competition

characteristics
Characteristics
  • Private Enterprise:

The right to choose whether to own a business, what business to enter and what to produce with only limited government direction

  • Private Property:

The right to own, use or dispose of things of value AND to own, use or sell and product that you create

characteristics1
Characteristics
  • Profit:

The reason why people enter business; the money left over after subtracting all the costs of operating a business

  • Competition

A rivalry between two or more businesses to sell their goods and services to buyers

characteristics2
Characteristics
  • Freedom of Choice

In the U.S. people have the right to choose:

+ their own career

+ what products to buy and where to buy them from

+ whether or not to organize with other workers to improve working conditions

+ where and when to travel

+ whether or not to express their opinion