Which of the following is not an important characteristic of a private enterprise economy?
a. resources of production are owned
and controlled by individual
producers
b. individual consumers make decisions
about what will be purchased to satisfy
needs
c. government involvement in the
economy is relatively limited
d. businesses decide what to produce
based on what is best for society
as a whole

d. businesses decide what to produce based on what is best for society

as a whole

Explanation:

In a  private enterprise economy, the factors of production are held by the private sector. The government does not interfere with economic decisions in the country.

Individuals or the private sector engage in businesses with profit motives. Therefore, in the private enterprise economy, the production of goods and services is profit-driven. Producers will avail in the market the goods and services that will have profitable returns.  What is good for society is not very important compared to the profit motive.