Question

Help would be appreciated: what are the major elements of free enterprise?

Answer 1

Answer:

A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.

Explanation:

Hope this helps!

Answer 2

Answer:

The major elements of free enterprise include:

The freedom to choose which business to open and how it operates, the right to own private property, being driven by the desire to maximize profits, having competition among the producers of goods and services, and the right of consumers to spend their money freely.