THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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grants of land or money often by the government
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a document giving someone the sole right to make and sell an invention
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a company that controls most or all business in a particular industry
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a group of corporations run by a single board of directors
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the system in which privately owned businesses compete freely
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Detailed explanation-1: -Free enterprise is an economic system that provides individuals the opportunity to make their own economic decisions, free of go.
Detailed explanation-2: -Private property, economic freedom, economic incentives, competitive markets, and the limited role of government are the characteristics of a free enterprise system. Private property: Private property means that individuals can own and make decisions about the use or sale of land, personal property, and other assets.
Detailed explanation-3: -Free enterprise examples include a private restaurant chain run without government interference or a person starting an online business. Its characteristics include market competition, private property, specialization, voluntary exchange, a price system, and entrepreneurship.
Detailed explanation-4: -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.