Capitalism -economic system in which private individuals own the factors of production (an illusion of a perfect society, which in reality is actually a bunch of hicks from Texas who really just have no clue what they are doing on earth)
Free enterprise system -economic system in which individuals own the factors of production and decide how to use them within legal limits (basically what its saying: you can do whatever you want as long as whatever you want to do is what the government wants you to do for them)
Competition -Rivalry among producers or sellers of similar goods and services to win more business (a useless fight to see who can get more people to buy more stuff at a higher price than others, but in the end having to lower prices because its too conceited)
What is the role of government in our free enterprise economy? The government sets up legal restrictions on freedom of enterprise, but thats about all they do. But in the end, they dont really care so they let us do whatever we want and they randomly arrest us and charge us with a $4985764 dollar fine or fee or tax addition. We are the Sims, they are the real people who use the clicker-mouse to control us to use the bathroom properly and pay our taxes.
How do freedom of enterprise and freedom of choice apply to the American economy? They apply to the American economy because
America is a free country. How they apply are by being the democratic government and the structure of our society the way they are. The freedoms are actually risks that the government only benefits from, no matter which way the result turns. Both freedoms are actually illusions that the media and the government sets up like a matrix so it corrupts the people into thinking absurd things like Bush is a good president, and that TV dinners and McDonalds are healthy for you.
Describe a situation in which a lack of competition caused you to pay more for a good or service. Every time I go to the Loop and realize that because there are no other movie theatres near the area, I have to pay for sitting between two groups of teenagers during the movie; one group reacts to everything in the movie extra loudly, while the other group decides to tell all their other friends about it by calling or texting them on their cell phone, and talking like their in their own room. OR: A hypothetical situation of a student not doing anything in school and so the parent has to pay extra for the psychotherapist.
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