ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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freedom of choice
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guaranteed full employment
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profit
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private property
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Detailed explanation-1: -Capitalism is the economic system in the United States. It is a market economy. Capitalism means that people, not the government, own most businesses. In the U.S., businesses decide what to sell.
Detailed explanation-2: -basic principles: (I 1 freedom of choice; (2) private property rights; (3) profit motive of owners; and (4) owner control. In the United States, there are three basic types of business firms-individual-ly owned, partnerships, and corporations.
Detailed explanation-3: -The U.S. economic system of free enterprise has five main principles: the freedom for individuals to choose businesses, the right to private property, profits as an incentive, competition, and consumer sovereignty.
Detailed explanation-4: -According to the latest jobs report, about 200, 000 jobs were added to the economy and unemployment went down to 3.9% last month. By some measures, this means the U.S. has finally reached full employment.