Which situation best reflects the concept of free enterprise? Consumers have a choice between two bakeries in a single city block. An agency determines which supplements are safe for people to buy. Local officials set the prices for all the gas stations in a community. The government decides the minimum wage for all airline workers.

Question

Kaylin Ryan

Business

28 November, 23:03

Which situation best reflects the concept of free enterprise? Consumers have a choice between two bakeries in a single city block. An agency determines which supplements are safe for people to buy. Local officials set the prices for all the gas stations in a community. The government decides the minimum wage for all airline workers.

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June · Answer 1

The second option: an agency determines which supplements are safe for people to buy.

1) A choice between two bakeries is not sufficient for considering totally free.

2) Setting the prices by officials is not an example of free enterprise.

3) Stating the minimum wage is not an example of free enterprise.

Given that supplements are part of healthy sector it is important that a specilized agency pronounce about safety. The certification of the suplements as self permit manufacturers and consumers interact freely.

Shania King · Answer 2

Free enterprise is when people enjoy many economic freedoms. Having this in mind, the situation that best reflects the concept of free enterprise is the first choice - consumers have a choice between two bakeries in a single city block.