Asked by Kaohulani Palakiko on May 11, 2024
Verified
Our government helps the free enterprise system work by doing all of the following,except
A) enforcing business contracts.
B) using a central planning agency to direct the production process.
C) defining property rights.
D) lowering some of the barriers to competition.
Free Enterprise System
The free enterprise system is an economic system where private businesses operate in competition and largely free of state control, based on supply and demand.
Central Planning Agency
An organization tasked with overseeing the economic planning and resource allocation in a centrally planned economy, often encompassing various industrial and service sectors.
Business Contracts
Legally binding agreements between two or more parties outlining the terms of business transactions.
- Acquire knowledge about the importance and consequences of government actions in the economic sector, encompassing taxation, regulatory measures, and the provision of public goods and services.
Verified Answer
Learning Objectives
- Acquire knowledge about the importance and consequences of government actions in the economic sector, encompassing taxation, regulatory measures, and the provision of public goods and services.
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