American destitute Enterprise I. Benefits of Free Enterprise * Free enterprise refers to the social and political commitment to give flock the freedom to start new c bees and compete in the market place place, and it has several characteristics: 1.) The Profit Motive a. This drives individuals and businesses to improve their material wellbeing. b. It forces business owners to exercise financial discipline, encourages them to take rational risks, rewards innovation, and improves productivity. 2.) Open chance a. The principle that anyone can compete in the market place. 3.) statutory Equality b. The principle that everyone has the same legal rights, with no restrictions on the rights of women or minority groups. 4.) Private Property Rights c. The right to hold up and use ones own possessions. 5.) Freedom to get and Sell d. The right of free contract allows people to see into what agreements they will enter (employment contracts, business agreements, etc.) e. The right of voluntary deputize allowing people to decide what, when, and how they want to buy and sell. * The Role of the Consumer a.
When they buy goods and services, consumers send signals to businesses telling them what to produce and also send signals when they withstand to buy b. Consumers can also join interest groups that demonstrate to persuade public officials to act in certain slipway that benefit the group. * Economic freedom and the recognition of dimension rights are reflected in the constitution itself 1. Property Rights * The 5th and 14th amendments forestall the government from taking property from its owner except when on that point is a public reason such as to var. a highway. * The right of a government to private property for property is called eminent domain, but the government must behave the property owner the fair value of the property. 2. Taxation * clause 1 in... If you want to get a full essay, sanctify it on our website:
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