Free enterprise allows individuals to choose their occupations and start businesses without needing special permission, while public enterprise is common in command economies.
Free enterprise is a system where individuals can freely choose their occupations and start businesses without requiring special permission. It is characterized by private ownership of businesses operated for profit, providing economic freedom for both consumers and producers.
In contrast, public enterprise is a characteristic of command economies where the government owns and controls major industries. In a market capitalist economy, resources are owned by private individuals, making decisions about their use without government interference.
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