SETTLING NORTH AMERICA 1497 1732
COLONIES OF FRANCE ENGLAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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By selling crops and other products, the colonists were following a system of free enterprise. What does free enterprise mean?
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The governor of each colony made all of the economic decisions for the colony
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The people can start any business they want. They can decide what to make, how much to produce, and what price to charge
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The people and the government work together to make all business decisions
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The King of England made all of the economic decisions for the colony
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Explanation:
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: -Consumers buy goods and services to satisfy their wants, and producers make goods and services.
Detailed explanation-3: -Profit Motive-encourages entrepreneurship and is largely responsible for the growth of a free enterprise economy.
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