Question

A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. As a result, some business owners have become successful, while others have not.

In an essay, choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world.

Answer 1

ANSWER:

The free enterprise system is broadly self-regulating; and the government role is limited, and entrepreneur plays a important role to the economic decisions because their spending assist in determination of what is, and is not, produced. In the free enterprise system the entrepreneur Bill Gates founded the largest software business of the world, Microsoft. Bill Gates was able to create the worlds most influential and successful companies because of the freedoms provided in the free enterprise system.

The entrepreneurs in the free enterprise system are allowed to make their own economic choices; thus in similar pattern Bill Gates was given freedom to create the product and sell it in their business, however and whenever he wanted. Bill Gates took advantage of making independent economic decisions for it's company prices, products, and services. Without the freedom offered in free enterprise system, Bill Gates could not have benefitted as a business owner because they would have been deprived of the opportunity to grow and create their businesses as they did