After a lot of consideration, Steven decided to open his own business called Universal Communications and hire employees that re
flected a more diverse customer base. He was happy to have this opportunity because it was a dream that he had always had. He had always wanted to make his own decisions about what his company would produce and how. The only aspect of the business he was unsure of was pricing, yet he knew this would be important for his ultimate success. Refer to Satellite Communications. Steven is operating in a ____ because he has the opportunity to decide what and how to do things.
Also called free market system, this system of economy leaves products, prices, and services to be determined by the market, not the government. This is a capitalist system where there is zero government control and enterprises are left to the market to decide their fate. Example government cannot set price control policies under this system.
