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ipn [44]
3 years ago
5

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

Social Studies
2 answers:
horrorfan [7]3 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]3 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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