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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A system where resources are privately owned and decisions about production and distribution are made by voluntary exchange in the marketplace.
The right to choose whether to own a business, what business to enter and what to produce with only limited government direction
The right to own, use or dispose of things of value AND to own, use or sell and product that you create
The reason why people enter business; the money left over after subtracting all the costs of operating a business
A rivalry between two or more businesses to sell their goods and services to buyers
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