HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Making goods cheaper to increase sales and profits
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Making goods more expensive to decrease sales and profits
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Making better goods by having the government oversee companies
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Having labor unions helping out workers
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Detailed explanation-1: -This type of system is often referred to by others as a free market, or capitalism. In a free enterprise system, you are allowed to spend your money in the way you want. You often have several different companies competing for your business, which often leads to lower prices and better-quality products.
Detailed explanation-2: -In a free enterprise economy, goods are produced for those people who are willing and able to buy them. Any good that is owned by an individual or a business. Under free enterprise, individuals and businesses have the right to own property, and they may own as much property as they are willing and able to purchase.
Detailed explanation-3: -Free enterprise, or the free market, is an economic system where private individuals can form companies and buy and sell competitively in the market with a minimum of government interference.
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.