Ppt Chapter 3 Notes The U S Free Enterprise System Powerpoint Free enterprise system. another name for capitalism, an economic system based on private ownership of productive resources. open opportunity. the ability of everyone to enter and compete in the market of his or her own free choice. legal equality. situation in which everyone has the same economic rights under the law. Chapter 3: american free enterprise section 1 . chapter 3, section 1 copyright © pearson education, inc. slide 2 objectives.
Chapter 3 Notes The U S Free Enterprise System Ppt Download How a free enterprise system works. in chapter 2 you learned that the right to private property is one of the most fundamental freedoms in a capitalist economy. what steps can a government take to support free enterprise? protecting encouraging competition. enforcing contracts. keeping business costs low. Chapter 3. promoting growth and stability. to keep the huge american economy on course, government economists follow macroeconomic trends. macroeconomics is the study of the behavior and decision making of entire economies. by contrast, microeconomics. is the study of economic behavior of indi viduals, families, and businesses. The free enterprise system. concept. market economy. choice, chapter 3 key concept. system based on private ownership of productive resources. name is sometimes used because in a capitalist system anyone is an economic system based on individual voluntary exchange, and the private ownership of. ise system is another name for cap. One indicator of economic stability is the general level of prices. the government seeks to prevent sudden, drastic shifts in prices so that neither the consumer or the producer suffers. another indicator of stability is financial institutions such as banks and the stock market. government regulations seek to keep these institutions as stable.
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