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

Question

Business

Luke Anderson

21 November, 23:39

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

+4

Answers (1)

Know the Answer?

Jaime Cantrell · Answer 1

Warren Buffett - The Oracle of Omaha

Warren Buffett came from a middle-classfamily in Nebraska. From a young age, he understood the value of investing money and gaining interest on that investment.

He worked hard at several jobs, but what made him one of the wealthiest men in the world was his gift for allocating capital within a free market system.

In other words, he found companies that he thought would be successful, and invested in them at a reasonable price.

Warren Buffett is an example of a man whose wealth is owed largely to the free enterprise system. Buffett was able to allocate his money however he wanted, investing in businesses that he thought could compete effectively. Without the free market system, he would not have the right to invest however he wanted, and would not have become so wealthy.