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It is said that freedom of private enterprise is the greatest...

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Business Environment and International Business
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It is said that freedom of private enterprise is the greatest in the free market economy. Which of the following assumptions is true in this context?
(i) Land, labour, and capital are integrated with the help from private enterprise.
(ii) Income is received in monetary form by the sale of services of the factors of production and from the profits of the private enterprise.
(iii) Members of the free-market economy have freedom of choice in so far as consumption, occupation, savings, and investments are concerned.
(iv) The free-market economy is not planned, controlled or regulated by the government.
(v) The free-market economy is prone to corrupt practices.

Answer & Solution
Correct Answer: Option B
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