Explain the importance of the following terms in US free enterprise systems: Profit motive, Voluntary Exchange

Answer 1

The profit motive is the driving force behind our economic system. Entrepreneurs constantlly seek to improve products and distribution systems so that they can sell more products and services, thus making more profits.

Voluntary exchange is the concept that no one makes you buy anything. You can exchange money for services or do them yourself. You can exchange money for products or do without the products. Of course, either of these exchanges can be reversed. You can exchange services or products for money