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What is a free enterprise market economy?

Answer:

Economic system in which the principal means of production, distribution, and exchange are in private (individual or corporate) hands and competitively operated for profit. A mixed economy combines the private enterprise of capitalism and a degree of state monopoly, as in nationalized industries and welfare services.

Most capitalist economies are actually mixed economies, but some (such as the US and Japanese) have a greater share of the economy devoted to free enterprise.

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First answer by ID3486020739. Last edit by Worloma. Contributor trust: 0 [recommend contributor ]. Question popularity: 3 [recommend question].

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