GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bob has to ask permission to open a shoe store.
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Bob is told where to open his shoe store.
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Bob is told how much to charge his shoes.
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Bob can open a shoe store where he wants and for the price that he wants.
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Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.
Detailed explanation-2: -The United States is considered the world’s premier free-market economy. Its economic output is greater than that of any other country that has a free market. 1 The U.S. free market depends on capitalism to thrive. The law of supply and demand sets prices and distributes goods and services.
Detailed explanation-3: -The U.S. is often considered a highly capitalist country whose economy embodies the essence of a free market.