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Question 1
Describe the role of supply, demand, and competition in a free-enterprise system.

Sagot :

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Answer:

Competition is a driving force of free enterprise, resulting in greater efficiency and lower prices for the consumer. Countries embracing free market principles benefit from a higher standard of living.

Explanation:

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There are a lot of roles played by demand. A free enterprise system driven by competition is  due to the fact that  a lot of businesses offering the same or similar goods and services leads to competition and this is very good for the consumer as it may lead to a decrease in price.

  • The price system is known to have a link that connects the consumers, producers and markets all together.

Since the  U.S. economy is a free enterprise system, the people but not the government have almost all of the country's resources. Free enterprise leads to more economic growth by helping people to start new businesses.

Learn more about Free enterprise  from

https://brainly.com/question/3369578

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