What are the key characteristics of the US economic

System?Ms. Ramos

Alta Loma High School

America is a free-enterprise system

http://www.tianet.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=5437

Ms.Ramos

Economic Freedom

•Laissez-faire

•Work•Buy•Sell

freeenterprisepac.com

Ms.Ramos

Competition

•Firms are free to compete

•Consumers benefit

http://www.product-reviews.net/2007/09/27/mcdonalds-vs-burger-king-vs-kfc-who-is-better/

Ms.Ramos

Equal Opportunity

•Legal right to seek education & compete in marketplace

http://www.heartlandcomm.com/eoe.aspx

Ms.Ramos

Binding Contracts

•Right to enter & legal

nononsenselaw.com

Ms.Ramos

Property Rights

•Right to sell, buy, & control the use of our “property”

Ms.Ramos

http://zunia.org/post/intellectual-property-and-developing-countries/

blog.rumrelllaw.com

Profit Motive

•$$$ drives free enterprise

•Provides incentive to work and create new businesses

Ms.Ramos

3sigma.com

Limited Government• Protect property

rights• Promote general

welfare• Preserve

competition• Protect consumer,

worker, environment

• Stabilize the economy Ms.Ramo

s

socialstudieshelp.com Ms.Ramos