Question

TEST IT: Economic Systems

Answer 1

More economic freedom for businesses describes capitalism because everyone, from the producer to the consumer, has the right to enter or exit the market if there is economic freedom. The choice of what to produce, how to produce, and for whom to produce is up to the producer. They can choose their company's location, operating hours, and staff members.

What is capitalism?

A common conception of capitalism is as an economic system where individual actors own and control property according to their interests and where supply and demand freely determine market prices in a way that can best serve society.

The desire to turn a profit is capitalism's fundamental characteristic. Both parties to a voluntary exchange transaction have an interest in the outcome, but neither can get what he or she wants without considering what the other wants. This logical self-interest is what can result in success for the economy.

To know more about capitalism, refer:

brainly.com/question/7672602

#SPJ9