Characteristics of Free Enterprise

By: Brayton Cooper

Economic Freedom

Economic Freedom you can do as you choose with the money you have, and this applies with anything in business as well.

Voluntary Exchange

Consumers and sellers interact with each other making different markets. They interact how they want too.

Private Property Rights

People privately own there stuff and can do as they choose with it.

Profit Motive

You go for a goal of a profit which drives the economy.


The drive to get a better product creates better products that consumers will enjoy.

Consumers in Free Enterprise System

This video defines entrepreneurs. The reason that they are actors in a free enterprise system is because they pick what they want to do with there jobs and lives without government involvement.

Comment Stream

3 years ago

This video does a great summary of what an entrepreneur goes through and the factors that they must weigh when thinkin about starting a business.

3 years ago

I like the part in the video that says entrepreneurs have to have the willingness to take a gamble. They have to risk a lot only to maybe be successful and sell their product, and they have to work really hard to accomplish their goal, whether it be helping people or society, or simply making a profit.

3 years ago

The video does a really good job of explaining all the things that an entrepreneur has to think about before they decide to produce something. It definitely shows all they risks that they take.