Explain how the drawing relates to entrepreneurship and the rights and responsibilities of starting a business.
2. What evidence is given in the drawing that justifies calling the U.S. economic system a free enterprise system?
3. What are the six main principles of the U.S. free enterprise system that are shown in the drawing?
4. How does this drawing show Smith’s “laissez faire” ideas? 5. How does the drawing relate to property rights and government re
strictions on property use by businesses and individuals?
6. How does the benefit of allowing producers freedom result in the benefit for consumers of varied and abundant quantities of goods?
7. Explain how companies compete in an industry with monopolistic competition.

This refers to the process of setting up a business as a sole owner, taking all the risks in the hopes of making profit over both short and long tern.

With this in mind, we can see that because of the free enterprise system currently in practise in the United States of America, there is a lot of opportunities for young entrepreneurs to have a crack at the market and make large profits.

Please note that your question is incomplete so I gave you a general overview to give you a better understanding of the concept.

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