Private Enterprise Requires Which Four Elements to Function Effectively

question 30

Multiple Choice

Private enterprise requires which four elements to function effectively?

• A) Communism, capitalism, socialism, and privatization
• B) The right to product safety, consumer choice, freedom of information, and no government intervention in business
• C) Land, labour, capital, and entrepreneurship
• D) Supply, demand, equilibrium, and monopoly
• E) Private property rights, freedom of choice, profits, and competition

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Definitions:

Self-Determination

The process by which a person controls their own life, making choices and decisions based on personal preferences and interests without undue influence from others.

Responsibility

The obligation to carry out duties and make decisions within a role, organization, or towards society.

Servant Leadership

A leadership philosophy that focuses on serving others, prioritizing the well-being and development of team members and stakeholders above self-interest.

Authentic Leadership

A leadership style that is genuine and transparent, with leaders being true to themselves and their values while fostering trust.