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Characteristics of Free Enterprise
By definition, a free enterprise economy (also known as: capitalism or a free market economy) is an economic system controlled chiefly by the individuals and private companies instead of the government. Characteristics of a free-enterprise system include economic freedom, voluntary exchange, private property, and the freedom of profit motive. Capitalist societies generally achieve a higher standard of living because of the incentive to work: capitalism prefers harder and more efficient workers.
Economic freedom is a principal of a free market economy, which allows people to decide how they will earn and spend their income. Econom
Approximate Word count = 428
Approximate Pages = 2 (250 words per page double spaced)
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