Which of the following is the guiding economic philosophy of the free enterprise system?

Social Studies

2 answers:

horrorfan [7]4 years ago

6 0

Answer:

Capitalism is the correct answer.

Explanation:

An economic system in which the private individuals or businesses control the modes of production is called capitalism. It is different from the command economy i which the government plays key role in planning the economy. The laissez-faire capitalism is the purest form of capitalism. In laissez-faire capitalism private individuals can decide where to invest money, what to produce and set the price. There are no checks and controls in laissez-faire economy.

shtirl [24]4 years ago

5 0

Capitalism is the guiding economic philosophy of the free enterprise system. It is based on private property and free enterprise. Hope this answers the question. Have a

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