Characteristics of Free Enterprise

Alexa Hopkins

Economic Freedom- freedom to choose your employer, occupation, job location and what you want to buy.

With Economic Freedom you are able to buy whatever you want

Voluntary Exchange- act of buyers and sellers freely and willingly engaging in market transactions; characteristics of capitalism and free enterprise.

Two men are exchanging things they both want. They are giving up something to get the thing they need or want.

Private Property- fundamental feature of capitalism, which allows individuals to own and control their possessions as they wish; includes both tangible and intangible property.

This picture shows that people can put private property signs up because it is there own house and land that they have bought.

Profit Motive- driving force that encourages people and organizations to improve their material well-being; characteristic of capitalism and free enterprise

It kind of shows what people will do for more money. They found a cure for cancer but don't want to lose money. This shows profit motive-$$

Competition-the struggle among sellers to attract consumers

This picture shows competition by how all the workers are competing to finish first in the race.

Comment Stream

3 years ago

Do you think the govt or drug makers would actually not find a cure to make more money? Or would a cure bring more mobey?