Freedom Matters
FREE MARKET:
- Goods and services are bought and sold without any government interference, taxes, tariffs, rules, or regulations.
- Prices are allowed to fluctuate based on supply and demand.
- All property is owned by private individuals and all goods and services are privately provided.
- All transactions are voluntary, not compelled or restricted by the government.
CAPITALISM:
- A economic system where there's privately owned businesses and competition in a free market.
MIXED ECONOMY:
- A mixed economic system has elements of both free markets and government controls.
- Government controls or partially controls many goods or services, such as education, courts, roads, hospital care, and postal delivery.
- Government provides subsidies to agricultural producers, oil companies, financial companies, utility firms, and other businesses.
- Many businesses and individuals are required to report there income to the government and pay income taxes, sale taxes, etc...
- Most goods and services can only be bought and sold if they follow government regulations, rules, laws, and taxes.
- Many types of professionals can only operate there business if they have a government license.
- Some businesses can only operate if they pass a government inspection.
- Government decides what your allowed to buy and sell (legal or illegal).
SOCIALISM:
- an economic system where businesses are owned by the community as a whole.
COMMUNISM:
- an economic system where private property is completely gone and people share everything.