Question

Which of the following is characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market?
a.mixed market economy

b.free enterprise

c.communism

d.free trade

Answer 1

The correct answer is B) free enterprise.

The system that is characterized by private or corporate ownership of capital goods; investments that are determined by private decisions rather than by state control, and determined in a free market, is free enterprise.

Free enterprise or Capitalism, is the economic system that supports private property, a free economy, free trade, and economic conditions determined by the market. Democratic and modern countries like the United States, Canada, Australia or the United Kingdom, are examples of capitalist countries.

Answer 2

C. Because all of them want to trade to have goods in there colonies