Who controls what is sold in a free enterprise system?
it is
Producers
Government
or
Consumers
I'll be glad to check your answer.
If I am selling something, do I determine how much profit I will make? Do consumers determine how much profit I will make? or Will government determine how much profit I will make?
Just think about Apple, why are they so successful?
In a free enterprise system, what is sold is primarily determined by consumers and producers, with limited government intervention. Let's break it down:
1. Producers: In a free enterprise system, producers, also known as businesses or companies, play a crucial role in determining what is sold. They have the freedom to produce and offer goods and services based on market demand and their own business objectives. Producers analyze market trends, consumer preferences, and competitive factors to decide what products or services to bring to the market.
2. Consumers: Consumers also have a significant influence on what is sold in a free enterprise system. Their demand for certain goods and services guides producers in deciding what to produce and offer. If consumers show a strong preference for a particular product or service, producers are more likely to cater to that demand and make it available in the market.
3. Government: While the main control over what is sold rests with consumers and producers, governments in a free enterprise system typically have a limited role in influencing or regulating sales. Governments create and enforce laws and regulations to ensure fair competition, protect consumers, and uphold certain standards. They may intervene when necessary to prevent fraudulent practices, protect public health and safety, or address market failures. However, in a true free enterprise system, the government does not dictate or control what is sold on a broad scale.
So, to summarize, in a free enterprise system, what is sold is primarily determined by the choices and preferences of consumers and the decision-making process of producers, with some oversight and regulation by the government.