Free Market Economy In The United States

Throughout history, the economic system of capitalism otherwise known as free market economy has been present for many years. Capitalism has given us the freedom to own and operate businesses without any government intervention with the idea of making a profit at the same time satisfying customer’s needs and wants.

The economic system of the United States is known as a free market economy. Hence, a free market economy is basically the economic system known as capitalism. Capitalism is the idea that individually owned businesses are privately functioned without any government intervention. First of all, in order for any business to function it, requires an excessive amount of capital all in all a correlation with the functionality of supply

According to Toy’s R Us website there seems to be no accurate price range estimation for all the goods and services more or so because private company always tend to lower the price more profit through competition. Finally, Enterprise and Toy’s R Us are one of the largest private companies within the U.S that follow the free market system with no restrictions on the profits they can generate, alternatively have a competitive advantage in adjusting price levels to meet the standardize sales, and most importantly both companies have the incentive to produce and sell any desired goods and services with no governmental intervention besides justice and legal

An entrepreneur is someone who owns and operates their own business with this concept it allows individuals, especially students to take risks, learn from success and failure, and make their dream business a reality. According to the Global entrepreneurship monitor, sponsored by Babson and Baruch college state's “ 27 million working age Americans nearly 14% are starting or running new businesses”. In other words, the United States has many small businesses or mom and pop stores if still in existence that helps contribute to the economy by providing jobs at the same time satisfying customers needs and wants through, labor, consumption, saving and the whole idea of being a free market. In addition, Laissez faire capitalism allows for investments, innovative, market diversity and any privately owned businesses to produce and sell any good or service without limitations. Without capitalism the market would be regulated by the government similar to a communist economy with no opportunity to grow having sectors that would determine the market values of merchandise, meanwhile it could be better off monitored