free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. When using this, it allows people to determine the success or failure of an economic endeavor. Many business owners have become successful while using this, like Mark Zuckerberg. Mark Zuckerberg has become one of America's most richest according to Forbes, his net worth sits at an astounding 56.7 billion dollars. He is the co- creator of one of the most used social media's out there. He created Facebook while he was in college in his dorm room. You might ask yourself, why is Facebook so great? Facebook allows people from all over the world to connect with friends, family, and associates. Since it's creation it has had many updates to improve the site to make it a more enjoyable experience. …show more content…
You also have the ability to call people on Facebook , so this is a great for those users out there that does not have a phone. Facebook allows you to share posts to everyone in your contact list. The website is a way to make sure you never lose touch with those you care
A free enterprise system provides individuals the opportunity to make their own decisions without restrictions from the government, A prime example of an entrepreneur who makes nothing but his own decisions is Donald J. Trump. Donald Trump was born into a wealthy family, his father Fred was also a business man and entrepreneur. It was his fathers real estate company that allowed Donald to start his franchises. When Fred Trump Died, he died with a net wealth of between 250 and 450 million dollars in real estate, he inherited between 40 and 200 million.
Encouraging equal competition allows the supply and demands of a population to determine the success of the nation's economy. If your product isn't good enough to beat your competitors, then it isn't going to be successful in the nation's economy. BODY #3: The free enterprise system allows entrepreneurs to create their own business, free of state control. Bill Gates has become the person he is today because the free enterprise system provided that. If our nation didn't go off of the free enterprise system, then the government could have controlled Bill Gates economic decisions, resulting in him not being the successful man he is. The free enterprise system is a positive influence on our nation. CONCLUSION: The free enterprise system allows individuals to make an impact on the economy. It lets people with good ideas, such as Bill Gates, to create new companies, to provide better products for the consumers. The free enterprise system allows people to make individual economic decisions. It gives people the right to compete for business. Consumers, not the government, can decide the profit potential of a business
The United States is known for having a free-enterprise economy where a business can be conducted freely without government involved. In free-enterprise economies, goods and services are traded openly and are produced depending on the demand. People who support this type of economy believe it motivates businesses to make money and welcome new ideas. An important part of the economy is to have full employment and low inflation.
There exists a multitude of individuals who desire the title of ‘entrepreneur’. Thankfully, there exists such a system which makes this title easier to attain - the free enterprise system. The free enterprise system provides individuals the ability to make their own economic decisions, without limitations from the government. With this in mind, free enterprise has been necessary for Elon Musk to help found the electric automobile company, Tesla, Inc. With the free enterprise system, Elon Musk has made an impact on the business world with the ability of being able to lower risk for consumers, as well as create advanced products for consumers.
Usually, the first disadvantage that people who oppose free enterprise bring up is the significant social division, or gap between the rich and poor. Although this may be true, it is an inevitable misfortune that will be found in all forms of markets - unless, of course, you live in a utopia. The sad truth is, there will always be a gap between the wealthy and less fortunate, even in
Free enterprise is an economic system in which a private business operates in competition and largely free of state control. In the movie Roger and Me free enterprise
The ‘American Dream’ has recently transformed into the American nightmare. More and More people are retiring broke and are looking for some type of financial assistance either from families, government, or continuing to work past retirement. Not every American has the skill set to run a successful business, but more often than not, most Americans do possess a skill set that can be used to create individual wealth which each citizen will have complete control over. Therefore, Americans should embrace the principles that this country was based on, which is free enterprise. In order to insure fiscal independence, Americans must consider an essential component
Facebook is great because it is a way for people to keep in contact with
The free enterprise system uses a thing called gross domestic product, which is the value of all goods and services produced in a country in a given year. When value comes into play it is based on the utility, which is the usefulness of the product and the scarcity, which is the limited availability of it. Value today is not what it used to be like many years ago. People are not realizing it, but there is a big problem that is only going to get worst. Which is that the people's wants are unlimited while material is scarce.
Many know him as the man who invented the social networking website, Facebook. He is mainly known as a very rich and generous man. Zuckerberg has donated his profits to a failing school, has spent billions to help research on childhood sickness, and he has signed pledges saying that he will donate his money to charities. Although, he did have a setback. Mark was blamed for supposedly stealing ideas from college classmates on a social site that they had made for Harvard
The Free Enterprise System is the freedom to receive and earn an education, apply for a job, and start a business. Free Enterprise is actually an economic system where few restrictions are placed on business’s activities and ownership, giving you the ability like I said to receive an education, start a business, or apply for a job.
Reform is to make an alteration, a change that is meant to improve crises. In the perspective of the three key players, reform meant something almost completely different when discussing the educational status of Newark public schools. To Mayor Cory Booker, Governor Chris Christie and Facebook’s CEO Mark Zuckerberg, reform meant implementing changes that completely deviated from previous establishments. The three contributors each had their opinion of public education, Initially Zuckerberg was not bothered with the idea of implementing simple changes to public school all the while keeping it under public administration, but after discussing with the other two key players they all suddenly shared a common goal, public education had to
The Free Enterprise system is a type of economy where products, prices, and services are determined by the market instead of being determined the government. Free enterprise refers to an economy where a businesses is free from the government’s control. There are five main principles of the Free Enterprise System. These five parts are, the freedom to choose our businesses, the right to private property, the profit motive, competition, and consumer sovereignty.
Social networking sites allow you to connect with old friends from high school, family that lives far away, in my case, even in another country as missionaries, friends down the street, coworkers, and just about anyone else you can think of. This can make you feel more connected to the world around you. You can keep up with what everyone is doing and accomplishing in their lives very easily through statuses and pictures posted every day. I have met new family members, whether by marriage or by birth, through Facebook who I otherwise have not had the opportunity to meet. One of my uncles, who recently passed away, had an affair about thirty years ago and did not
“The biggest risk you can take, is to take no risk” is a wise quote from Mark Zuckerberg, a man who is definitely is a strong abider of his very words. But what makes this man such a risk taker? This man, Mark Zuckerberg, created Synapse, is the founder of the Facebook era, and is the world’s youngest billionare.He is a high school programing prodigy and a software developing genius. Mark’s most famous accomplishment, Facebook, is the world’s largest social networking site. Heard of it? Good or Bad? Member or not? You have most likely encountered talk of this phenomenon. Is it a phase or an addiction? A help or a hindrance? Whatever it is, Mark’s accomplishments updated his and our statuses permanently .