Short Answer 
The free-enterprise system allows individuals to manage private property with minimal government restrictions, gives consumers the power to make economic choices that dictate product demand and pricing, and enables producers to set prices based on costs and consumer demand while engaging in competition.
Step 1: Understanding Private Property Rights
In a free-enterprise system, individuals have the freedom to use and manage their private property without significant government restrictions. This means property holders can:
- Buy and sell their property as they choose.
- Engage in transactions without bureaucratic interference.
- Utilize their assets to generate income or invest as they see fit.
Step 2: Consumer Economic Choices
Consumers have the autonomy to make their own economic decisions in a free-market environment. This autonomy allows them to dictate:
- What products they wish to purchase based on their preferences.
- How much they are willing to pay for goods and services.
- The demand for various products, which influences market pricing.
Step 3: Producer Economic Decisions
Producers in a free-enterprise system determine their business practices, especially in setting prices for their products. This process involves:
- Deciding the selling price based on production costs and target market.
- Responding to consumer demand to adjust supply accordingly.
- Engaging in competition to attract buyers, which can shape the overall market dynamics.