Score Big on HISET Social Studies 2025 – Challenge Yourself and Win!

The correct choice is identified as the system where individuals and businesses have the freedom to engage in competition for profit with minimal government interference, which is characteristic of a free enterprise system. In this economic model, the market largely dictates what products are created, how they are priced, and how resources are allocated based on supply and demand. Entrepreneurs and private firms can innovate and make decisions without heavy regulatory restrictions, promoting efficiency and consumer choice.

In contrast, socialism involves significant government control over the means of production and aims for equal distribution of resources, reducing individual competition for profit. A command economy is one where the government makes all the decisions regarding the economy, such as what to produce and how much. Lastly, a mixed economy incorporates elements of both free market and government intervention, blending the freedom of competition with regulatory measures, but it doesn't emphasize minimal interference to the same extent as a free enterprise system does.