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Question
#37774. greg9570
asks:
What is the definition of a free enterprise, and what impact does it have on the economy?
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Russ
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Free enterprise is a political-economic condition under which a firm or individual is able to engage in business without excessive government restrictions.
The impact would be that businesses would be likely to make more profit (than if there were execessive government restrictions) and therefore, businesses would grow and more businesses would be established, growing the gross national product resulting in "two cars in every garage and a chicken in every pot." (incorrectly attributed to Herbert Hoover, but it is a great quote to convey what free enterprise is supposed to do).
Hope this does your homework for you.
Cordially, Russ
Aug 21 03, 11:13 PM
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