Answer:
B
Explanation:
The free enterprise system contributes to economic growth and transparency. It gives room for competition as it helps to ensure that the best goods and services are produced to consumers at a lower rate.
So, producers must meet always meet with consumers price expectations or they will be forced out of the market since they are other producers producing similar commodities.
The correct option is B). Producers must meet consumer expectations for the price or be forced out of the market by competition because of the open opportunity.
Free enterprise refers to an economy system, in which the market determines the prices, products, and services rather than the government. It is an economic system which is controlled by supply and demand forces.
The five major principles of the free enterprise system are the freedom for individuals to choose their businesses, the right to the private property, profits as an incentive, competition, and consumer sovereignty.
Free enterprise system is also known as the free market, in which government has no control rather private businesses and consumers control the marketplace. They are allowed to start business without any interference of government.
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