Private enterprise requires the presence of four elements: (1) private property rights, (2) freedom of choice, (3) competition, and (4) no government control.

Question

Quizplus · Accepted Answer

While private enterprise indeed requires the presence of private property rights, freedom of choice, and competition, it does not necessitate the absence of government control. Instead, it operates within a framework of laws and regulations established by the government to ensure fair practices, protect consumers, and maintain economic stability.

Private Enterprise Requires the Presence of Four Elements: (1) Private