Question

Which statements describe a free enterprise system? Check all that apply. Citizens can own property. The government employs all workers. Supply and demand drives production. Consumers and producers make their own decisions. Citizens can accumulate wealth. The government sets prices and wages.

Answer 1

A free enterprise system refers to a type of system where all commercial activities are managed by private business instead of through governments.

Thus, in a free enterprise system, governments are not involved in commercial activities, only its citizens are. Based on this description, the most suitable answers would be: (A) citizens can own property, (C) supply and demand drives production, (D) consumers and producers make their own decisions, and (E) citizens can accumulate wealth.

Answer 2

The following statements describes the free enterprise systems

• Citizens can own property
• Supply and demand drives production.
• Consumers and producers make their own decisions.
• Citizens can accumulate wealth.

Step-by-step explanation:

Free enterprise system is the system in which market is free from government control. It is a type of capitalism. Market itself manage its price and business is easy to do. All the citizens are allowed to own property, consumers and producers can make their own decisions and every person is allowed to accumulate wealth if they want.