Characteristics of free enterprise              by: Austin Disinger

Economic Freedom

In the picture above it shows economic freedom allowing people to go buy goods as the please.

Voluntary Exchange

By paying for the vote he is in hopes of winning the election while the other getting money to vote for him is making money and hoping for a better public official.

Private Property

After purchasing an item in a free enterprise economy it becomes yours and also private property. House, car and many other things....

Profit Motive

The ultimate goal for all business is to make money.(profit) When a company makes profit it can produce more product for the consumer. Creating more and more profit.

Competition

Their needs to be  competition in free enterprise economy so the consumers have a variety in a product they want. business have to compete to make the consumer want there product more than the other companies.

What is a Entrepreneur

Comment Stream

2 years ago
0

Excellent video. Very good on explaining entrepreneurship