Characteristics of Free Enterprise

By: Allison Hendrickson

Economic Freedom: I think this photo represents economic freedom because economic freedom is not only just about being able to buy whatever you want. It also means that you can choose what you want to do as a job or you can choose who you want to work for.

Voluntary Exchange: It is when trade goods and services, sometimes money is involved but not always.

Private Property: This one is self explanatory, on private property people can do what ever they want on it as long as they don't interfere with other's rights.

Profit Motive: How I think this photo ties in with profit motive is when you are basically taking a gamble at something like a business idea and hoping it works and you are able to make money out of it.

Competition: When it comes to having a business you want to be better than your competitors so you can get the most costumers and have a more successful business.

Here is what I think is a good summary of what an entrepreneur is.

Comment Stream

2 years ago
0

Your thinking on how profit motive works in a way similar to gambling was very creative. The Entrepreneurs make this "gamble" with the goal of profits in mind. Very interesting.

2 years ago
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I thought your pictures tied well into your tackk and they all did a very good job of representing what they're supposed to. I like your view of economic freedom and how you worded it, which makes it easier to understand.

2 years ago
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Your subject of competition is represented well. I feel that competition is a very important part of a businesses success