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ayojenn Group Title

what are three goals of the free-enterprise system?

  • 2 years ago
  • 2 years ago

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    The goals of the free enterprise system is to ALLOCATE SCARCE RESOURCES IN THE MOST EFFICIENT MANNER THROUGH A FREE OPERATING "PRICE MECHANISM". In other words, rather than to have the govt set and control either prices of goods, or to set production goals, the market (which consists of all consumers and producers in a country) express their desires through their willingness to purchase goods and services at a price that they consider to be appropriate. In this way, the desires and needs of the citizens of a country are communicated very clearly and quickly to producers of goods and services. So the "price mechanism" is the answer and it does a much more efficient job than any govt administration, no matter how good it may be. wmw

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