Market economies rest upon the fundamental principle of individual freedom for consumers, producers, and workers. The three basic types of business organizations in the United States are sole proprietorship, partnership, and corporation.

Section 2: The American Labor Force

Market economies rest upon the fundamental principle of individual freedom for consumers, producers, and workers. Labor unions represent about 14 percent of U.S. workers and play an important role in the nation’s economy and political life. They negotiate wages and workplace agreements with management.

Section 3: Businesses in Our Economy

Market economies rest upon the fundamental principle of individual freedom for consumers, producers, and workers. Businesses play many different roles in our economy, including that of consumer, employer, and producer. Businesses also have responsibilities to their consumers, owners, employees, and communities.