Which of the Following Is Considered to Be the Most

question 50

Multiple Choice

Which of the following is considered to be the most fundamental right of the private enterprise system?

• A)The right to private property
• B)The right to guaranteed profits
• C)The right to exercise price discrimination
• D)The right to fair competition

---

Definitions:

Labor Productivity

A measure of economic performance that examines the amount of goods and services produced by one hour of labor.

Unionized Labor Force

A workforce that is represented by one or more unions, which negotiate wages, working conditions, and other employment terms on behalf of their members.

Entrepreneur

An individual who initiates and operates a new business venture, taking on financial risks in the hope of profit.

Government Effectiveness

A measure of the quality of public services, the civil service and its independence from political pressures, the quality of policy formulation, and the credibility of the government's commitment to its policies.