ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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North Korea
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Cuba
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USA
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Sweden
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Detailed explanation-1: -The United States and Singapore are two examples of countries that reflect the most free enterprise systems.
Detailed explanation-2: -The U.S. economy is a free enterprise system. That means that individuals-and not the government-own most of our country’s resources.
Detailed explanation-3: -Is the U.S. a Free Market Economy? Broadly, yes it is. However, the United States is not among the top 10 market economies ranked by economic freedom. This is because the U.S. has a relatively high degree of government spending and regulation.
Detailed explanation-4: -Most countries have a mixed economy or mixed economic system. The U.S. is often considered a highly capitalist country whose economy embodies the essence of a free market.
Detailed explanation-5: -Free enterprise is the freedom of general economic activity within a nation. Free enterprise examples include a private restaurant chain run without government interference or a person starting an online business.