Characteristics of Free Enterprise
By: Ali Burkle
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.
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 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 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 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.