The U.S. economic system is sometimes called capitalism, or the capitalist system because it is established on private or corporate ownership of capital (____________invested in buildings, machines, and other forms of property used to produce goods and provide services). Capitalism promotes people to ____________and to invest so that they might improve their ____________of life. In turn, capitalism motivates business people to supply Americans with the products and services they want, and at prices they are ____________to pay. The Free-Enterprise System American business owners are free to earn ____________, but they must also acknowledge ____________if they make errors in decisions that adversely affect their business operations.

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Capitalism also involves competition among businesses which hel... View the full answer