USA HISTORY

Detailed explanation-1: -The word “free enterprise” or “free market” refers to an economy in which the market, rather than the government, sets prices, products, and services. As a result, businesses and services are not subject to government regulation.

Detailed explanation-2: -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.

Detailed explanation-3: -A free enterprise system is an economic system where a government places very few restrictions on the types of business activities or ownership in which citizens participate. This type of system is often referred to by others as a free market, or capitalism.

Detailed explanation-4: -Market economic system Market economic systems are based on the concept of free markets. In other words, there is very little government interference. The government exercises little control over resources, and it does not interfere with important segments of the economy.

Detailed explanation-5: -Free enterprise refers to business activities that are not regulated by the government but are defined by a set of legal rules such as property rights, contracts, and competitive bidding. The argument for free enterprise is based on the belief that government interference in business and the economy hampers growth.