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3 years ago

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

2 answers:

professor190 [17]3 years ago

3 0

Capitalism is the guiding economic philosophy of the free enterprise system. It is based on private property and free enterprise. Hope this helps!

Inga [223]3 years ago

3 0

This question is incomplete. Here is the complete question:

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

socialism

communism

Marxism

capitalism

Answer:

The correct answer is Capitalism.

Explanation:

The economic and social system called capitalism is the one which the means of production are in charge of private sector. Its fundamental sources of production are labor and capital.

In this system, capital is the one who generates wealth and through the market, is in charge of distributing resources. And just that is what is also understood by free enterprise system.

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