When people are free to work wherever they wish and to buy, sell, and produce whatever they want, it is known as ___________ __________.

Answers

Answer 1

Answer:

Free enterprise.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free market economy (enterprise).

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The four (4) main elements or characteristics of a free enterprise system includes the following;

a. Profit: businesses are all out to generate revenue and profit through the sales of finished goods.

b. Economic freedom: means of production of goods and services are controlled by the people rather than the government. Thus, the producers are free to make their economic choices or decisions such as deciding on how much is to be charged on a product.

c. Private ownership of properties: the various factors of production are owned and allocated by the people. Thus, citizens have rights to the ownership and use of private property.

d. Competition: there are many buyers and sellers of homogeneous products, as well as free entry and exit in the market. Thus, consumers are free to make their economic choices or decisions such as deciding on which product to buy, which goods interest them, where to shop for goods, etc.


Related Questions

The global balance of power, alluded to on the map, best reflects which of the following changes in the mid-twentieth century?

Answers

Answer:

C. Military and economic decline of Western European colonial empires following the Second World War

Explanation:

when tracing the history of Europe and northern Asia, we lean about numerous monarchies that date back centuries. Today, monarchies still exist, but they can very different from their predecessors. Discuss some of the European nations that still have a monarchy. How do the monarchies of today differ from that existed centuries ago? What has remains the same?

Answers

Answer:

Explanation:

==================================================================

We can take Britain as an example. They are pretty much just simple figurehead just like King Louis XVI who was stripped of his powers completely (he was executed later as he tried to escape to neighbouring countries).

==================================================================

But before they were just simple figureheads, they had absolute power, doing pretty much whatever they want. At some point, they were even allowed to arrest someone for absolutely no reason at all but I believe at the end of the 17th century, the British monarchs were stripped of their executive powers and had to submit to the Parliament. This is why Britain is a constitutional monarchy.

==================================================================

!     HOPE I HELPED     !

- VSAUCY

Daily life of south and north

Answers

Answer:

During the years 1820-1850, the north and south had quite different daily lives. On the north side, working conditions were terrible as the factory system was developing. As the working conditions had worsened while the factory system was developing many people had lost their jobs which means they couldn't make money to help survive and raise their families. On the south side, cotton was extremely popular to them. Farming was the source of income and food to many people on the south side.

Explanation:

Not sure this is the answer you are looking for. If it's not please let me know what exactly you are looking for and I'll be more than happy to help you out. :)

Which is true?
O.Sergeant York won the Medal of Honor for killing several Germans and taking 132 as
P.O.W.
O.The Lost Battalion - a group of more than 500 U.S. soldiers - was surrounded by the
Germans and suffered heavy losses.
O.Cher Ami was a decorated carrier pigeon who carried a famous message when the
Lost Battalion came under friendly fire.
O All of the Above

Answers

Answer:

The first is true, and so is the 3rd so I would go with all of the above.

Explanation:

Alvin York killed 20 German soldiers and almost single handedly took 132 prisoner. He is renowned for his bravery and his strong Christian Faith. Cher Ami was a French pigeon donated by the British to carry messages.

Was there a conflict between the culture* of India and the culture* of Britain?

Answers

Answer:

The Britishers were instrumental in introducing Western culture, education and scientific techniques. Through those means, they gave traditional Indian life a jolt and galvanized the life and culture of its people. Undoubtedly, the Seventeenth Century marked the zenith of Indian medieval glory.

Explanation:

How did literacy test laws affect politics in the South after the Civil War?
A. They helped Radical Republicans dominate state governments.
B. They led state governments to increase funding for education.
c. They allowed states to avoid enforcing the Fifteenth Amendment.
D. They prevented many former slaves from voting.

Answers

Answer:

D is the answer. Here is proof. Plx mark brainliest for proof

Explanation:

Answer:

D

Explanation:

I had the same question

Which of these effects do you consider to be most important? history chapter 10

Answers

Answer:

what effect do mean? elaborate the question what kind of history chapter 10


If you were a landowner and senator in the Roman Republic, to which social class would you have
belonged?

Answers

Answer:

The patrician class were the descendants of the most ancient and powerful noble families. They were landowners, lived in large houses and they had political power in the Senate. The patricians married and did business only with people of their own class.

Explanation:

Had more than 50 independent city-states

A. Maya
B. Aztec
C. Inca

Answers

Answer:

B Aztec sorry if it's wrong

Antoinette created some sample research questions about different topics. Which question would be best for her to use to begin focusing her research on a topic?

A.
Is the use of technology in the classroom beneficial to learning?
B.
Why is dieting bad for teenagers who are trying to lose weight?
C.
Are student loans bad for young adults attending college?
D.
How do hurricanes impact the economies of coastal cities?

Answers

The use of technology in the classroom learning will be one of the suitable topics for the purpose of research.

What are the uses of technology?

Unimaginable technological developments have been achieved in the last few years, which has led to the advancements in the fields like science and education as well.

With the introduction of technology in education, students can get interactive responses, which will help them understand the concepts in a better way.

Hence, option A regarding the use of technology in education and learning shall be a suitable topic for Antoinette.

Learn more about uses of technology here:

https://brainly.com/question/897938

#SPJ2

Answer:

How do hurricanes impact the economies of coastal cities?

Explanation:

Sometimes the letters have a different answer, pay attention more to the text provided and not the letter.

Which of the following was a "push" factor that led to the Great Migration?
(0.5 Points)
A. The neighborhood of Harlem had a movement of African American arts

B. There were factory jobs available in the north
C. The South had discriminatory laws and did not offer many job opportunities


Which of the following is most important about the Harlem Renaissance?
(0.5 Points)
A. It abolished the Jim Crow Laws in the South

B. Many African Americans moved to the North

C. It brought about works by African Americans that may never have been discovered

Answers

C. The south had discriminatory laws and did not offer many job opportunities
C.It brought about the works by African Americans that may never have been discovered

helpppp pleaseeeee!!!!!!!!!!

Answers

Okay so home would be here

What nations existed after World War I which had not existed before World War I

Answers

Answer:

Austria, Hungary, Czechoslovakia, and Yugoslavia

Explanation:

The former empire of Austria-Hungary was dissolved, and new nations were created from its land: Austria, Hungary, Czechoslovakia, and Yugoslavia.

1. Read the first speech. Does Wilson think the United States should enter WWI? Why or why
not?

Answers

Answer: No Wilson doesn’t think the United States should enter World War I.

He thinks that the US must be neutral because such divisions among

the US would be fatal to the US peace of mind.

Explanation:

From the first speech, the conclusion we can draw is that Wilson doesn't want the United States to enter World War 1.

What was World war 1 ?

World War 1 was a global war from 1914 to 1918. It involved many of the world's major powers, organized into two opposing alliances: the Allies (led by the United Kingdom, France, and Russia) and the Central Powers (led by Germany and Austria-Hungary).

The immediate trigger for the war was the assassination of Archduke Franz Ferdinand of Austria-Hungary by a Serbian nationalist in June 1914, but the underlying causes included a complex web of factors, including nationalism, militarism, and alliances.

The war was characterized by trench warfare, new technologies such as poison gas and tanks, and high casualties. It ended with the defeat of the Central Powers and the signing of the Treaty of Versailles in 1919.

Wilson doesn't want the United States to enter World War 1 is we can conclude from  the first speech.

Learn more about  World war 1 here:

https://brainly.com/question/12233146

#SPJ2

PLS HELP ! PLSSS

“There is no true God but God and Muhammad is the messenger of God”. Muslims recite this phrase as evidence of their faith.

what does this mean and it can be short pls help

Answers

''There is no God but Allah, and Muhammad is his messenger." This is the basic statement of the Islamic faith: anyone who cannot recite this wholeheartedly is not a Muslim.

please mark in brain list


8. How did Texas pay off its debt?
a.
b.
sold land for $0.50 per
acre
started colleges, public
schools, and universities
designated lands for roads,
harbors, and railroads
gave up its claim to 67
million acres of land
C.
d.

Answers

Answer:

I hope that this helps you :)

Explanation:

To do this, Texas became the only state in the Union to retain control of her public lands. ... Texas relinquished 67 million acres in the Compromise of 1850 in exchange for a cash payment that wiped out the debt. Future land sales were earmarked to fund Texas education.

What could a stele from a monument represent about the
kingdom of Axum?

Answers

Answer:

The artists carved false doors, windows, and structural beams across the impressive stele, which was just one of many carved around the 4th century. Originally, they were likely meant to mark important grave sites, and they may have been influenced by the introduction of Christianity to the city in that same timeframe.It ruled the South Arabia of Yemen for half a century in the 6th century. The Aksumites erected monumental stelae, which served a religious purpose in pre-Christian times. One of these granite columns is the largest such structure in the world, at 90 feet. Under Ezana (fl. 320–360) Aksum adopted Christianity.

Explanation:

Which of the following best describes the initial reaction to Jackie Robinson’s breaking of the color line in professional baseball?

He was welcomed enthusiastically nearly everywhere.

He received threats, abuse, and harsh treatment, even within his own team

It went without hardly any notice among other players and fans.

Answers

Answer:

Explanation:

went without hardly any notice among other players and fans.

Answer:

B. He received threats, abuse, and harsh treatment, even within his own team.

Explanation:

hello please help i’ll give brainliest

Answers

Answer:

c use of secs

Explanation:

1. What were three factors leading to war? 2. What two groups of nations developed? 3. How were the Serbians involved in the start of World War I?

Answers

Answer:

World War I

Explanation:

The factors responsible for World War I included politics, Imperialism, alliances, and nationalism.

The two groups of nations formed called the Triple  Entente Alliance and The Triple Alliance.

Archduke Franz Ferdinand, killed by a Serbian nationalist in Sarajevo in 1914. The assassination of the couple is widely thought to be one of the events that start the war in Europe. The Austria-Hungary government blamed the Serbians and declared war on Serbia. Russians came to Serbia's defence.

The Holocaust was considered what to the so called "Jewish question"?
a.
beginning
c.
final solution
b.
end
d.
result


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

c

Explanation:

c i. hitters word it was the final solution to his jew problems

True or false? President Franklin Roosevelt was sworn in after President Kennedy's assassination

Answers

Answer: true

Explanation:

True president franklin Roosevelt was sworn in after the assassination

blank are Bolivian government an example of this type of government includes blank in this country people vote for their desired candidate however these candidates have been pre-approved by a government body called the blank. In this way the people's right to blank is compromised​

Answers

Answer:

Presidential system

Bolivia/Government

Political and administrative structure

A unitary republic with a representative democratic government. Politically and administratively, the country is divided into 9 departments, 112 provinces, 327 municipalities and 1,384 cantons.

Please mark as brainliest cuz the FILE EXPLOITER is wrong

Explanation:

Describe one way World War I influence colonized states

Answers

The Treaty of Versailles called for the colonies of the Central Powers to be given to the newly formed League of Nations. Germany, the Austro-Hungarian Empire, and the Ottoman Empire all lost their colonial claims with Great Britain and France receiving the lion's share of their holdings.

World War I influenced colonized states and encouraged independence movements in Europe's colonies,

What are the effects of world war I?

The effects of world war I is both positive and negative. After the world war, there am the formation of many nations that gain independence. The negative effect of it is an economic crisis due to the destruction of infrastructure.

Each European nation was interested in establishing its empire through the practice of "New Imperialism." Each nation attempted to overpower its neighbors as this turned into a strong competition.

Empires fell and new nation-states rose as a result of World War I. In the late 19th century, colonialism was at its height, and World War I had a significant effect on all of the colonies of Europe.

Learn more about World war I, here:

https://brainly.com/question/9723758

#SPJ5

What are three reasons someone would make the difficult trip across the mountains and wilderness? What would have made their trip easier?(

Answers

Answer:

This opening, called the Cumberland Gap, led from Virginia to the thickly forested land in present day Kentucky, In 1775, Boone helped build a trail called the Wilderness Road through the Cumberland Gap. The Cumberland Gap made it easier for colonists to move into the Ohio River Valley.

There are reasons like, to explore, to breathe oxygen that is free of gasses or air pollution; which helps respiratory problems and it makes it easier to breathe especially if you have asthma.

Bringing a good amount of food because of a limited diet, exhaustion can come in and make the travelers vulnerable to diseases such as flu, so you could take shots and vitamins to keep your immunity up, you bring a map so you don't get lost. To make it easier there should be a path, or a guide, maybe signal on your phone would be a good help.

How is society impacted by governmental politics?

Answers

Answer:

Si no hubiera política social, el principal mecanismo de distribución social de recursos sería el mercado, el cual, por su naturaleza, resulta inequitativo, porque los dos principales recursos que se distribuyen a través del mismo generan desigualdad en la sociedad.

Explanation:

Answer:

Laws creating conformity based mindsets affect generations to come rendering supportive and oppositional opinions to radical concepts.

Explanation:

Which politicians benefitted the most from the July Days?

Answers

Answer:

Kadet (Constitutional Democratic) ministers.

SORRY IF I'M WRONG!

Answer:a period in the Russian ... evidence that the Bolshevik leader Lenin had close political and financial ties with the German government. .

HISTORY OF THE HOLOCAUST
PLEASE HELP!!

Answers

the answer is C i’m sure

Which help line agencies meet their goals by advising, budgeting, planning, and managing?

executive committees

congressional commissions

staff agencies

managerial bureaucracies

Answers

Answer:

staff agencies (or employment agencies)

Explanation:

It is an association which matches bosses to representatives. In all created nations, there is a freely supported work office and various private organizations which go about as business offices.  

A staffing agency or occupation arrangement organization matches bosses to representatives commonly in a particular industry. For instance, a few offices are known for giving creation specialists to assembling or quality bookkeeping, administrative staff for different sorts of office work.

Answer:Staff Agencies

Explanation:Gradpoint

What are five facts about Islam?


I will mark Brainliest!

Answers

Answer:

1. It is a monotheistic religion.

2. It teaches that Muhammed is a messenger of God.

3. It is the world's second largest religion with 1.9 billion followers.

4. The ones who worship Islam are called muslims.

5. The holy book of Islam is called Quran.

Explanation:

Hope this helps :)

Other Questions
Please help; I'd love for someone to help me with this question that makes no sense what so ever who won the 2020-2021 Nfl Mvp Award Kampus Corporation had the following eight investment transactions or events: Jan 1 Purchased Argon Co. bonds for $10,000 cash. (Purchase is considered a short-term investment in available-for-sale (AFS) debt securities.) Jan 3 Purchased 1,200 shares of Elmer, Inc. for $36,000 cash. (Purchase is considered a long-term stock investment with insignificant influence.) Mar 31 Received cash dividend of $0.25 per share from Elmer, Inc. Jun 1 Purchased 5,000 shares of Logan, Inc. for $60 per share. These shares represent a 40% ownership in Logan, Inc. Sep 30 Received cash dividend of $2 per share from Logan, Inc. Dec 31 Logan, Inc. reported net income of $150,000 for the year. Dec 31 As of December 31, the Argon Co. bond had a fair (market) value of $12,000. Dec 31 As of December 31, the Elmer, Inc. stock had a fair (market) value of $25 per share.Required: Prepare the journal entries Kampus Corporation should record for these transactions and events. How many hydrogen bonds are present in the base pairing of guanine and cytosine?3 *15 points* Earth ScienceBased on the picture, how many tilting events has this area undergone, and which principle tells us that this area has undergone tilting? Is (0,0) (0,100) endpoints of a vertical line, a horizontal line, or neither? Which policy would most likely decrease a city's gasoline use? In the 1780s, all of the following were problems facing the new nation except 1. The new president was a tyrant2. There were intense divisions among the different states3. The national government of the United States was too weak4. The new nation struggled with a large war dept In a couple of sentences, explain why it is important to find an instructor when starting a weight training program. (Site 1) Hey can someone tell me what -3x^2(14x^2-2x-8) equals I need help!! Bill will spend at most $29 on gifts. So far, he has spent $13. What are the possible additional amounts he will spend? Five-digit locker combinations are assigned using the digits 19. In how many ways can the combinations be formed if no digit can be repeated Special right triangles. find the value of x? hypotenuse = leg [tex] \sqrt{2} [/tex] Which organism described below makes its own food?yoo yoo ill rlly apriciate if someone helps me Find the area of each figure and round to the nearest tenth if necessary When people are infected with influenza virus, they...A. Experience uncomfortable symptoms as their body fights the virus.B. Might feel worse depending on how much exposure theyve had to the virus.C. Can combat the virus by immediately getting a vaccination.D. Will start to feel better when their body begins fighting the infection.Will give brainliest... Fill in the blank in the following sentence with the appropriate form of the verb vieillir below. Quelle chance tu as, tu ne ____ pas du tout!A. vieillissezB. vieillisC. vieillitD. vieillissons -4(y - 2) = 12solve for y, thanks How did the Founders give the constitution the ability to change? what are these changes called and what do they do? You make a scale drawing of a tree using the scale 5 in. =27 ft. If the tree is 67.5 ft tall, how tall is the scale drawing? A.) 10 in B.) 11.5 in C.) 12 in D.) 12.5 in