Free Enterprise

Characteristics: Economic Freedom, Voluntary Exchange, Private Property, Profit Property, and Competition
Actors of Free Enterprise: Entrepreneurs, Consumers, Governement

Economic Freedom is having the power to buy what you want, your occupation, your employer, and your job location. Businesses have the opportunity to hire who they please, produce what they feel will be most profitable.

My cat is getting the satisfaction of being pet, while I relieve stress with this econ project by petting him  .

Voluntary exchange is the act of buys and sellers freely and willingly engaging in a market transaction.

Private Property is the fundamental feature of  capitalism that allows individuals to own and control their possessions.

Profit Motive- incentive that encourages people and organizations to improve their financial and material beings.  

Competition is struggle amount sellers to attract consumers.

When two companies are on the same market, and they both produce a new project, theoretically if we were to make them human like this is what it would look like.

Comment Stream

2 years ago
0

I think that your first picture displays economic freedom well. I like America was in the background and the wings with the dollar sign was in front, showing how America has freedom to do with their money as they please.

2 years ago
0

Good tackle! Nice job , Logan! I couldn't for the life of me , see that cat in your picture , but the Murray Rothbard quote above it was nice! I regret to inform you that I used the same competition photo for my tackk, but since I posted mine first, you are the copy-cat! But it all looks great, really!