ECONOMICS
ENTREPRENEURS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
In this economic system, also known as capitalism or a free market economy, people have the freedom to own property, buy products, and they can choose to start their own businesses.
|
|
Communism
|
|
|
Free Enterprise
|
|
|
Socialism
|
|
|
Command Economy
|
Explanation:
Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.
Detailed explanation-2: -A capitalist economy is a type of free market economy; the profit motive drives all commerce and forces businesses to operate as efficiently as possible to avoid losing market share to competitors.
There is 1 question to complete.