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Humanities
5 Characteristics Of A Free Market System
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5 Characteristics Of A Free Market System
Winonah Garcia
30 August 2022
4.7
(114 reviews)
6 test answers
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question
5 characteristics
answer
Private property, Freedom of choice, Motivation of self intrest, competition, limited government.
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Private Property
answer
People own stuff, not the government
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Freedom of choice
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Entrepreneurs are encouraged to start businesses, Everyone can choose what to do/buy/sell
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Motivation of self intrest.
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People do things that benefit themselves,
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Competition
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Companies have a competitive drive, thus better quality and more variety and lower prices.
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Limited Government
answer
The people decide stuff, not the government (hands off approach) Companies are on their own.
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