The positive aspects of free enterprise are;
- Better quality.
- Lower prices.
- Freedom of choice.
Possible limitations are;
- Lack of fair competition.
- Potential for higher prices.
- Need for consumer knowledge.
<h3 /><h3>What is a Free Enterprise?</h3>
A free enterprise is a sort of economy where the market, and not the government determines the prices of goods and services.
Since the price is a major player in this sort of economy, competitors will be forced to align their prices with the market.
Thus there will be lower prices. However, there might also be a potential for higher prices and unfair competition.
Learn more about free enterprise here:
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