The private enterprise system guarantees that competition among business firms will be fair.

Question

Quizplus · Accepted Answer

The private enterprise system does not guarantee fair competition among business firms. It is possible for some firms to have advantages over others, such as access to more resources or favorable policies. However, the system does encourage competition as a means of improving products and services, reducing prices, and benefiting consumers. Regulations and antitrust laws are also in place to protect against unfair business practices.

The Private Enterprise System Guarantees That Competition Among Business Firms