Andrew values where he lives. He likes to make decisions about his job and his ability to
acquire wealth. He also wants to be the one to decide what producers should produce
and what he is able to purchase. In which type of economy does Andrew live?
A. Communist
B. Subsistence
C. Socialist
D. Free enterprise

Question

03-03-2020
Social Studies

contestada

Andrew values where he lives. He likes to make decisions about his job and his ability to
acquire wealth. He also wants to be the one to decide what producers should produce
and what he is able to purchase. In which type of economy does Andrew live?
A. Communist
B. Subsistence
C. Socialist
D. Free enterprise

Respuesta :

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Answer: Option (D). Free enterprise.

Explanation: Andrew live in a free enterprise economy. Free enterprise is a type of economy where products, prices, and services are determined by the market, not the government. Things that are free are unconstrained, and a business is an enterprise. So, free enterprise can be referred to an economy where businesses are free from government control.

Free Enterprise gives Andrew the right to freely pursue business activity, without government control, with the objective of capital gain. A free enterprise economic system is regarded as a crucial component of capitalist economic policy. It dictates that the government will not unduly interfere with economic transactions, When citizens and businesses are free to work hard and succeed, they contribute to a strong and dynamic economy and that's good for everyone.