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Elanso [62]
2 years ago
5

5. Describe the overall involvement of the government in the free enterprise system of

Social Studies
1 answer:
lubasha [3.4K]2 years ago
6 0

1. In the free enterprise system of the U.S. economy, the government exercises minimal involvement.

2. The three specific areas where the government plays an important role include:

  • Providing the legal and social framework (laws and regulations)
  • Maintaining competition (antitrust laws)
  • Stabilizing the economy (The Fed).

<h3>What is a free enterprise system?</h3>

A free enterprise system ensures that there are few restrictions placed on business activities and ownership.

Governments can intervene minimally to:

  • Provide public goods and services (state and local governments).
  • Redistribute income (social security)
  • Correct externalities in the economy.

For example, the United States government ensures that market participants do not engage in:

  • False advertising
  • Environmental hazards
  • Unsafe products (foods and drugs, inclusive).

Thus, the government exercises minimal involvement in a free enterprise economic system.

Learn more about free enterprise systems at brainly.com/question/668263

#SPJ1

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