Myronf510idn
Answered

Connect with a community that values knowledge and expertise on IDNLearn.com. Find accurate and detailed answers to your questions from our experienced and dedicated community members.

5. Describe the overall involvement of the government in the free enterprise system of
the U.S. economy. Then, identify three specific areas where the government plays an
important role, and give an example of each. (4 points)

Sagot :

Anthougoidn

1. In the free enterprise system of the U.S. economy, the government exercises minimal involvement.

2. The three specific areas where the government plays an important role include:

  • Providing the legal and social framework (laws and regulations)
  • Maintaining competition (antitrust laws)
  • Stabilizing the economy (The Fed).

What is a free enterprise system?

A free enterprise system ensures that there are few restrictions placed on business activities and ownership.

Governments can intervene minimally to:

  • Provide public goods and services (state and local governments).
  • Redistribute income (social security)
  • Correct externalities in the economy.

For example, the United States government ensures that market participants do not engage in:

  • False advertising
  • Environmental hazards
  • Unsafe products (foods and drugs, inclusive).

Thus, the government exercises minimal involvement in a free enterprise economic system.

Learn more about free enterprise systems at https://brainly.com/question/668263

#SPJ1

Thank you for contributing to our discussion. Don't forget to check back for new answers. Keep asking, answering, and sharing useful information. Find precise solutions at IDNLearn.com. Thank you for trusting us with your queries, and we hope to see you again.