Characteristics of Free Enterprise

By: Ali Burkle

Economic Freedom

This is the Preamble of the Declaration of Independence. The document represents economic freedom in giving Americans the freedom that is shown in our economy today.

Voluntary Exchange

An example of Voluntary Exchange is pictured above. It allows producers and consumers to make exchanges for what the other needs or wants. This is very often seen throughout our economy today whenever you go to buy or sell an item.

Private Property

Private property allows us as Americans to own and operate property privately with little government intervention. Without private property, we would not be able to own simple things such as land, cars or even homes.

Profit Motive

Profit Motive is a key essential opponent in a company. This allows a company to make more goods and services for the community around. The picture represents a company gaining money and creating a greater company from the profit that they are bringing in.

Competition

Competition is a big part in an economy. One company must make their product look more desirable than their competition so they will get more consumer to buy their product. There will always be competition in the economy, like the picture above, companies must use their whole corporation to make a desired product.

Free Market economy video

This video shows several examples of the characteristics of a free enterprise economy. Companies choose what product to sell and how mush to sell it for, were able to run the company without government control and consumers bought products being made.

Comment Stream

2 years ago
0

The video explains the basics of a free market economy very well and provides a look at how little regulation is present in a free market economy in its true form. It is unfortunate that a free market economy can't truly exist as regulation is needed in some industries, such as food industries to make sure conditions are sanitary and proper for the product being produced.

2 years ago
0

As I open this tackk I see your use of the Preamble of the Declaration of Independence at the very top which really proves your point in defining the true meaning of economic freedom and how it has existed in our nation since the beginning. I found this very amusing. Also the video explains the idea of free market economy and competition greatly and helped me get a better grasp on it.

2 years ago
0

I liked the use of the Declaration of Independence image. It really strengthens the term of "Economic Freedom". Also I enjoyed watching your video as it gave me a brief but in depth explanation on how industries work.

2 years ago
0

I like how your descriptions of each goal is very informative but yet simple to understand. The video explains well how free economy and the competition works.

2 years ago
0

Using the Declaration of Independence made me think differently about economic freedom. I also liked how you explained each of your pictures. It explained each characteristic in a simpler way. The video gave a good example of how the free enterprise economy works.

2 years ago
0

I really like that you used the Declaration of Independence to explain economic freedom, because it is a whole new way to look at economic freedom. I also liked how well your video explained the free enterprise system.