Which of the following statements best captures the notion of private enterprise?
A) Individuals pursue their own interests with minimal government restriction.
B) Certain business activities remain "private."
C) Businesses can do anything they want, free of legal restraints.
D) Small businesses will do better than big businesses in the long run.

Question

Quizplus · Accepted Answer

Private enterprise refers to the economic system where privately owned businesses operate in a free market with minimal government intervention. Therefore, the statement that individuals pursue their own interests with minimal government restriction best captures the notion of private enterprise. The other options (B, C, and D) are not reflective of the essential characteristics of private enterprise.

Which of the Following Statements Best Captures the Notion of Private