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Enterprise System
Pair the term with its definition
Term | Definition |
---|---|
Free Enterprise System | A voluntary exchange of goods and services allows for consumer choice, competition, and creation of wealth. |
Private property | Constitutional protections allow for private property ownership. |
Entrepreneurship | Freedom to invest, innovate, create wealth, and start businesses. |
Competition | Allows for specialization, variety in consumer goods and services. |
Consumer choice | Provides consumers with voice in the market. |
Profit motive | Provides incentive for entrepreneurship and investment. |
Laissez-faire | Ensures that the individual has freedom to operate in the market with few constraints. |