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Card 10 / 13: The chapter defines private enterprise as a characteristic of market-oriented economies. What would public enterprise be? Hint: It is a characteristic of command economies.
Answer:
Public enterprise means the factors of production (resources and businesses) are owned and operated by the government.
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Attribution:
Microeconomics, OpenStax-CNX Web site. Download for free at http://cnx.org/content/col11613/latest
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