Free Enterprise

By: Dante Vargas-Hall and Matt Martinez

Free Enterprise

Free Enterprise is an economic system, that is free from most government interference, where the competition of businesses creates better products for the consumers.


Private Property

Any good owned by an individual or a business.

Connection: These are the "cash crops" that business and realtors sell to the public consumer. These objects are basically the reason why economics are necessary.


Public Property

Property owned by the government.

Connection: This shows that even though it is a free market, the government still has a hand in economics, and the power to be a business in it's own right.


Choice

What someone must make when faced with two or more alternative uses of a resource.

Connection: This factor essentially determines the success of a business. The majority choice can't be wrong, and business that can attract said majority will undoubtedly be successful.


Voluntary Exchange

People can exchange what they value less for what they value more.

Connection: This factor is how things get done. Otherwise, everyone would have to manufacture everything for themselves, which is impossible, simply due to the fact that the general population would be unwilling to trade.


Competition

The driving force behind improvement of products in order to not fall behind.

Connection: This is the reason for improvement. There is nary a space for complacency when your rival is constantly getting better, which in turn causes you to want to improve to keep your consumers.

Economic Incentive

Economic incentives are factors that persuade or motivates a particular action by an individual or business.

Connection: This factor is the icing on the cake. Nothing speaks louder than some Ben Franklin's, so this is the ultimate way to sway top-tier talent towards your business.