Difference between revisions of "Free enterprise system"

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(It's where you don't have to pay for your spaceship.)
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A '''free enterprise system''' is an [[economic]] system characterized by private ownership of property and productive resources, the profit motive to stimulate production, competition to ensure efficiency, and the forces of [[supply]] and [[demand]] to direct the production and distribution of [[goods]] and services.
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==Sources==
 
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http://usinfo.state.gov/products/pubs/oecon/chap12.htm
 
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[[Category:Economics]]
 

Revision as of 11:49, July 1, 2010

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