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

What are three changes that happened in Oklahoma during the 1910s and 1920s? What is her attitude about these changes?

Answers

More towns, trains, and  production of agricultural products.  

Explanation:

In Caroline Henderson letter to Henry A. Wallace in 1935, she mentions about changes that were happening in Oklahoma during the 1910s and 1920s. According to her, people began expanding in the area which causes more towns to spring up, along with trains and easier access to land, and food. Henderson wrote this letter to explain the once fertile land turned into an awful dust storm with no food.

the political, economic, and social difficulties faced by the South after the war.

Answers

what’s the question??

I’ll give you brainliest

Answers

Answer:

REally thank you!!!

Explanation:

how has modern science helped us to
learn about a disease that hit over 700 years ago

Answers

Answer:

12355677899097665322

Explanation:

este adevarat ce spui istetule

List 3 reasons the Age of Exploration occurred

Answers

Answer: Them being for the sake of their economy, religion and glory. They wanted to improve their economy for instance by acquiring more spices, gold, and better and faster trading routes. Also, they really believed in the need to spread their religion, Christianity.

Explanation:

What was life like for the lower-class people in Mexico? Explain jobs, education, housing, etc.

Answers

Answer:

They were poor, had lowpaying jobs like yard workers and servants, usually dropped out of school to help their families, and had small homes with typically lots of siblings

How does Mandela
use parallelism and opposition to make his final appeal?

A. By offering to die for his beliefs
B. By incriminating both blacks and whites
C. In explaining how important his vision is to him
D. In demonstrating the dangers of all forms of
authoritarianism

Answers

Parallelism is a rhetorical device used by Nelson Mandela.Use examples from the text to illustrate the point of his speech.

What was Nelson Mandela's speech about glory and hope for?

Nelson Mandela's goal is to educate others about the future of South Africa and the struggles that the country faces now that he is president. Nelson's goal is to inspire others to fight for equal rights.

Why did he include nature-related references in his speech?

Refer to the text for evidence.His audience consists of South Africans.His goal is to show how united the people are, and he's using a metaphor to compare the people's deep attachment to the country to the natural world.

Learn more about Nelson Mandela here:

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what factors contributed to the start of world war 1

Answers

Answer:

the factors that contributed to the outbreak of WWI were the assassination of archduke fredinand, imperialism, alliances, and nationalism

Match the following terms with the correct definitions.

Question 1 options:

Viet Minh


Satyagraha


Viet Cong

1.
Vietnamese that fought for independence

2.
Communist party of Northern Vietnam

3.
non-violent resistance to create change

Answers

Answer:

Viet Minh= 1

Satyagraha=2

Viet Cong=3

Explanation:

Answer:  hope this helps :D

Explanation:

What factors led to the Spanish-American War, and what was the impact of American
victory?

Answers

Answer:

The answer is below

Explanation:

The main factors that led to the Spanish-American War are:

1. Cuba's struggle for independence from Spain.

2. The unexplainable damage of the U.S. battleship Maine in Havana's harbor on February 15, 1898.

On the other hand, the impact of American victory led to the:

1. formation of the peace treaty ensuring the government of Span to withdraw ownership of Cuba territory,

2. It stopped the Spanish imperialism of Guam, Puerto Rico, and the Philippines in which the United States took over.

3. The victory also allowed the United States to annex the independent state of Hawaii.

While you are walking down the street... the police out of no whereee just stops you and search your back pack because the “FEEL LIKE IT” ...which amendment does that violate ? (No links smh!!)

Answers

Answer:

4th Amendment.

Explanation:

The 4th Amendment states;

"The right of the people to be secure in their persons, houses, papers and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by the Oath of affirmation and particularly describing the place to be searched and the persons things to be seized."

(The police shouldn't just be searching you out of no where, they need permission from the person they are searching, or an actual permit from their superiors)

Hypothetically speaking, what is an instance where free speech had negative consequences? How is freedom of speech a good thing?

Answers

Answer:

rioting which can cause destruction and violence and being allowed to state your opinions on different matters without punishment.

Explanation:

Answer:

what he said

Explanation:

Why is junk food bad for us and should have it tax

Answers

Junk food is bad for us because it is not healthy. Foods that are healthy are like fruits and vegetables.

Answer:

you want have that long to live my guy and yes you should have tax thing want be right i hope this helps

Explanation:

What was the goal of the 13th, 14th, 15th Amendments? Do you think they achieve their goal? pls i need it now

Answers

Answer:

The purpose of the 13th, 14th and 15th amendments to the United States Constitution was to establish political equality for all Americans.

Explanation:

Hopefully this helps you out.

SALT Cartoon Analysis: What is the cartoonist saying about the strain that the nuclear arms race is causing in the United States and the Soviet Union?

Answers

Answer:

Explanation:

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

COLD WAR

The cold war is in a nutshell, an indirect war between 2 countries. The unofficial declaration is considered to be from the Truman Doctrine where the USA is the sole protector of the world from the threat of communism. It is called a cold war as there was no official declaration of war between the 2 superpowers as it would result in the total annihilation of the world. The cold war was mostly technological as there were a space race and arms race between the 2 superpowers

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

WHAT DOES THE CARTOON SAY

The use of two people sitting on atomic bombs shows the delicacy of the nuclear arms race and overall the cold war. The nuclear race had caused mass tensions to grow between the two superpowers as A SINGLE MISTAKE could cause a mass extinction event due to the theory of M.A.D (Mutually Assured Destruction) where if one country had sent nuclear bombs to the other country, the other country will send counter nuclear bombs which would cause a mass extinction event. Not only did it affect the USA and the Soviets but affected the whole world as it had cause anxiety and were on high alert

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

!     HOPE I HELPED     !

The story regarding the nuclear and the fragility is the cartoonist saying about the strain that the nuclear arms race is causing in the United States and the Soviet Union.

What is a cartoon?

The term "cartoon," was originally used to describe the surface upon which a sketch is created and drawn by an artist.  It came to refer to a funny drawing, an animated one, or a collection of sketches that was to entertain people.

There was an issue regarding the way nuclear weapons were the ones that will appear. This suggested that the USA and the Soviet Union were there for mass extinction.

The mutually Assured Destruction hypothesis was the one that decide that the presence of the nuclear weapon was present. There was always the impact that was there which was present for the alert that was there.

Learn more about cartoon, here:

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Which option completes the summary of Mansa Musa's rule?
Mansa Musa had tremendous wealth and power. His army was
large, and he controlled different trade routes and farbas
(provinces).
SELECT AN ANSWER
He supported the common people and
began to use democratic systems of
government.
He required all people in the empire to
convert to the religion of Islam.
The farbas were run by people loyal to
Mansa Musa and paid him taxes that kept
him wealthy.
His armies travelled to the farbas and
forced the people to pay taxes to the
throne.

Answers

Answer: Mansa Musa inherited a kingdom that was already wealthy, but his work in expanding trade made Mali the wealthiest kingdom in Africa. His riches came from mining significant salt and gold deposits in the Mali kingdom. Elephant ivory was another major source of wealth give me brainliest pls

How did god of Ares affect, or influence, everyday life in Ancient Greece?

Answers

The Greeks believed in gods and goddesses who, they thought, had control over every part of people's lives. ... They made special places in their homes and temples where they could pray to statues of the gods and leave presents for them. The Greeks had a different god for almost everything.

this is due today so please help me :(

How do Russia’s current leaders use their victory in WWII for political gain?

https://www.euractiv.com/section/europe-s-east/opinion/wwii-a-new-religion-for-russia/

Answers

Answer:

After the end of World War II, the Soviet Union kept most of the territories it occupied in 1939, while territories with an area of 21,275 square kilometers with 1.5 million inhabitants were returned to communist-controlled Poland, notably the areas near Białystok and Przemyśl.

Explanation:

The photo shows a scientific occurrence called a sundog. How might a person living in ancient times interpret this event? Why?

Answers

Answer:

they follow the sun like a dog follows its master.  

Explanation:

Its Like their Master in a sense. I also took the test on edge.

Answer:

they follow the sun like a dog follows its master.  

Explanation:

Its Like their Master in a sense. I also took the test on edge

Explanation:

How could the alliance become problematic in the future

Answers

Answer:

Moral hazard is encouraged by US security guarantees, in which an individual takes a greater risk because someone else bears the cost. Allies may become complacent in dealing with rivals when they are protected by the world's most powerful military.Even non-allies are susceptible to the phenomenon if they believe they have anything like a security promise from the US, as Georgia and Russia did in 2008. Using NATO to assist Ukraine today could yield similar results. Another example is Saudi Arabia's recent adventurism. Via moral hazard, alliances may cause instability among neighbors, dragging the US into wars it unintentionally encouraged. This issue would be mitigated if allies were more worried about losing US defense.

How did the kingdom of Ghana grow wealthy and powerful from 750 to 1240?

Answers

Ans: The economic progression of Ghana from 750 to 1240 helped in the process of growth and territorial expansion by intensifying its trans-saharan trading activities in ivory, salt and gold. This enable Ghana to earn huge profit by the control of gold trade which turned region into wealthy and powerful.

8. "With this booming economy, no one believed this prosperity was going away." What is the best
meaning of prosperity in this quote?
(0.5 Points)

A. challenge

B. power

C. success

D. strength

Answers

Answer:

B

Explanation:

since prosperity is based on being able to do things for which power would be the most appropriate

Is this right? Please help me

Answers

Answer:

you are right

Explanation:

I'm 85% sure you're right

What challenges did the New France government face?

Answers

Answer:

extreme cold near starvation and

Explanation:

Which topic sentence best supports the following thesis statement?
Being an older brother is a big responsibility
A. My younger siblings often imitate what I do.
B. I know I have to take good care of my bike because one day my
little sister will be riding it.
C. Although it can be stressful at times, I love being the big brother.
D. Last weekend, my parents asked me to watch Katrina while they
visited a neighbor

Answers

Answer:it is A

Explanation:

Answer:

IT is A

Explanation:

I got is right when i did the test

GIVING BRAINLIEST PLEASE HELP!!
-if you answer correctly ill give you brainliest which will give you 23pts-

Answers

Germany and the soviet union!
Answer: Germany and Soviet Union

What was the role of Elizabeth Cady Stanton in women's rights movement 1800

Answers

Answer:

She was the leader of this movement

Explanation:

The reason that she was not allowed to go to an abolitionist convention just because she was a woman pushed her towards this movement

Elizabeth Cady Stanton was an abolitionist, human rights activist and one of the first leaders of the woman’s rights movement. She came from a privileged background and decided early in life to fight for equal rights for women. Stanton worked closely with Susan B. Anthony—she was reportedly the brains behind Anthony’s brawn—for over 50 years to win the women’s right to vote. Still, her activism was not without controversy, which kept Stanton on the fringe of the women’s suffrage movement later in life, though her efforts helped bring about the eventual passage of the 19th Amendment, which gave all citizens the right to vote.

Why was Hawaii referred to as the "crossroads of the Pacific”

Answers

Answer:

Air travel transformed Hawaii. It made the islands' geographic isolation irrelevant and tourism the foundation of the state's economy. It spurred growth and development throughout the islands. It helped shape Hawaii into the Pacific crossroads of commerce and culture it is today.

Explanation:

One reason the British wanted to control India was..

to encourage Indian nationalism

to buy manufactured goods in India

to get access to India's raw materials

to set up a democracy in India

Answers

Answer: 3 because the british basically plundered India and became rich because of it. There are a lot of negative things that  happened to India but the British also helped. Unfortunately the British are a contributing factor to poverty in India. See how big of an impact this military campaign in India was?

Explanation:

How was Germany divided after WW2? Why would this create conflict? Some historians argue that the Berlin Airlift was the beginning of the Cold War. Based on the memo you read for homework, do you agree or disagree and explain why?

Answers

Germany was divided after WWII because they were divided into four occupied Zones, Great Britain, France, Us, and The Soviet Union everyone was under a different country’s plan and it completely divided the country. For the second part you did not include the memo so I can’t base it off that so just read the memo and give a simple explanation if you agree or disagree

Germany lost the second world war and German territories were controlled by the Allies' power and they divided Germany into four-zone. America, Britain, and France controlled two-thirds parts and it was called West Germany, and the remaining part was controlled by the Soviet Union called East Germany.

What was the role of  Germany in the second world war?

Germany started the war by attacking Poland on 1 September 1939. Gradually Germany invaded more than 11 countries. German forces continually went forward under the leadership of Adolf Hitler.

The Berlin Airlift incident was the beginning of the cold war it started on June 24, 1948. When the Soviet Union blocked the entry of trains, cargo, road, water supply to the Berlin area controlled by the Allies power. This incident led to the cold war.

Therefore Germany was divided into West and East Germany.

Learn more about Germany here:

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