ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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driving force that encourages people and organizations to improve their material well being
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voluntary exchange
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profit motive
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economic system
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Social Security
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Explanation:
Detailed explanation-1: -Profit motive encourages people to improve their material well-being. In a free enterprise system, business owners and managers, not government officials, make decisions on how their business will be run. Maximizing profits is the driving force behind these decisions.
Detailed explanation-2: -Consumption, the fundamental driving force of economic development.
Detailed explanation-3: -Examples of the profit motive An engineer wants to stop spending money on gasoline and knows they can make money if they patent a new type of fuel. They spend their free time working on a machine that can convert water into energy for their vehicle.
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