HISTORY
NEW GLOBAL CONNECTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a booming economy
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Little government interference
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no bank loans
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A large middle class
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Detailed explanation-1: -The key ingredient of the free enterprise system is the right of individuals to make their own choices in the purchase of goods, the selling of their products and their labor, and their partici-pation in business structure.
Detailed explanation-2: -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-3: -The Role of Government In a free enterprise system, individuals “pursue what they believe to be best for them.” The government’s role, then, is to allow individuals to make the most of their economic freedom.
Detailed explanation-4: -What are the disadvantages of Free Enterprise Capitalism? Uneven economic growth: sometimes growth is fast and other times it is slow. Growing gaps between rich and poor: rich seem to get richer and poor seem to get poorer. Large “supply-side” tendencies: firms will combine and reduce competition.