1. Benefits of Free Enterprise

2. Basic Principles of Free Enterprise
There are several key characteristics that make up free enterprise.
Profit Motive
Open Opportunity
Legal Equality
Private Property Rights
Free Contract
Voluntary exchange
Competition

3. Profit Motive The drive for the improvement of material well-being.
Making money is the most important aspect of motivation

4. Private Property Rights
The right to control your possessions as you wish.
You may own a and operate a business at any place of your choosing.
Zoning laws

5. Open Opportunity The ability for anyone to compete in the marketplace.
Anyone can enter and leave the market at their own will
One can also make any product they wish

6. Legal Equality Legal rights to all
All people and companies are protected with the same rights, rules, and regulations

7. Free Contract
The right to decide what agreements in which you want to take part.
You have the sole responsibility to ensure contracts are fair

8. Voluntary Exchange
The right to decide what and when you want to buy and sell a product.
In reality…the consumer controls the economy with their wants and needs
Consumers can decide how to exchange goods and services

9. Competition The rivalry among sellers to attract consumers.
Business fight each other for consumer dollars….profit motive
The key is to show why consumers need to have their product

10. The Consumer’s Role
A fundamental purpose of the free enterprise system is to give consumers the freedom to make their own economic choices.

11. Consumer’s Role
Through their economic dealings with producers, consumers make their desires known.
When buying products, they indicate to producers what to produce and how much to make.

12. Interest Groups
Consumers can also make their desires known by joining interest groups
They are private organizations that try to persuade public officials to vote according to the interests of the groups’ members.
NRA (National Rifle Association)
PETA (Ethical Treatment of Animals)
NEA (Advocate of Educational Professionals)

13. Government’s Role
Americans expect the government to protect them from potential problems that arise from the production of various products or the products themselves.

14. Public Disclosure Laws
Laws that require companies to provide consumers with important information about their products
such as fuel efficiency of automobiles
side-effects of medication.

15. Public Interest
Both state and federal governments’ involvement in concerns of the public as a whole
environmental protection
sanitary food production.