Private Enterprise System

Submit a 1500 words paper on the topic Private Enterprise System. In a private enterprise system in its purest form, all factors of production are privately owned and there is no intention from the government to set market prices or intervene in the economy (Gitman & McDaniel 2007). Due to the little intervention by the government market forces dominate the economy and the three basic questions in economics: 1) what to produce? 2) how to produce? and 3) for whom to produce? are determined by the market mechanisms of demand and supply. 1. What goods and services to produce: it is the people who decide the mix of goods and services that should be produced and sold in the economy. The people demand those goods and services that they either need or want. Their needs and wants are based on the amount of income they have or wealth they possess to buy the goods and services. Firms then produce and supply the goods and services that are demanded by the customers in order to maximize their profits. 2. How to produce the goods and services: as there are limited resources available to an economy, producers aim to use minimum resources to maximize output and profits. As result firms use the most effective, efficient and least costly factors of productions to produce the goods and services desired by the consumers in the economy. 3. For whom to produce: as there are only a limited number of resources available hence only a limited amount of goods and services can be produced. People’s income is the major determinant regarding who gets the produced goods and services. Although firms produce the goods and services demanded by the economy, people with more income and more money at their disposal will dominate and be able to buy whatever they desire. Hence as can be seen the basic economic questions are answered in a private enterprise system by the decisions of producers, consumers and the market forces of demand and supply. There are four economic rights in a private enterprise system. The fundamental right on which the whole capitalist system stands is the right to own private property. As the private enterprise system states that resources are privately owned, people have the right to buy, sell, own, use and transfer property. Some forms of the property include land, machinery, building, equipment, and private possessions. People won’t be able to sell goods and services if they are not allowed the right to own as they will not be able to transfer this right to others through an agreement. The second right that exists in a private enterprise system is that the business owners have the right to keep profits from their business activities after taxes have been paid. Profit is the reward for the business owners as he is the one who takes the risk of investing his privately owned resources in the business hence any income generated by the owner in excess of his costs becomes his profit which he is entitled to keep. Another important right is the right to freedom of choice. People in the private enterprise economy are free to choose their own job, find alternate jobs if they are not satisfied with the current, become part of labor unions, negotiate their wage with the employer, choose from a diverse range of goods and service or choose to set up their own business.&nbsp.People may be forced to work in industries to meet government production targets or they may be forced to serve in the army if the government plans to increase its military strength.

Assignments Ace
Order NOW For A 10% Discount!
Pages (550 words)
Approximate price: -

Why Assignmentsace?

Top Quality and Well-Researched Papers

We offer top-quality and well-researched assignment papers at low prices. We believe in offering the best quality services as we care about your grades, academic performance, and success. Our writers range from masters and Ph.D. graduates to professors. Our panel of expert academic writers does not rest until they are 100% sure your essay will score you an A+ only.

Professional and Experienced Academic Writers

Our writing company has the best panel of experienced academic and business writers. Our writers have experience of up to 9 years in the writing industry. They will go the extra mile to make sure you are handing in a quality A+ paper. If you are a student searching for any academic help, I advise you to seek for our experts' help.

Free Unlimited Revisions

Our clients frequently ask if they will be liable to free revisions once they place an assignment order with us. However, how many times you ask for revisions, our academic experts will help you. Either way, there is no need to worry as we provide free revisions. We are always after our clients’ satisfaction, and we are very proud to say that all our clients are satisfied with our writing services.

Prompt Delivery and 100% Money-Back-Guarantee

We are strict when it comes to assignments deadlines. We make sure our writers keep in mind the assignment delivery time. Because we care about clients, we go that extra mile to make sure you do not face those consequences. Whatever the deadline, we promise our clients a prompt delivery.

Affordable Prices

Are our charges too cheap for you to believe? Here at Assignments Ace, we offer quality assignment help at affordable prices. Our prices are substantive to cater to all students. Every time you place your assignment order with us, you are guaranteed a 15% discount.In addition, new clients enjoy a discount of 30% when placing their first order with us.

Customer Support 24/7

Do you have any queries for us? Or do you want to consult with our expert academic writers? Go ahead and contact us. We have 24/7 online friendly customer service. Whatever time of the day or night, we are always available for you. You can chat with us via our online chat services or contact us via our email, support@assignmentsace.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Our assignments help website is the most internationally sought-after site because we offer a wide range of top-quality services at low prices. Our proud history as an assignment help company stretches back nine years. We do offer Top Quality, Well-Researched Papers and Online classes to help students internationally. We do both of these things at cheap affordable prices by offering up to a 30% discount.

Essays

Essay Writing Services

Writing an essay is one of the most tedious tasks that require a lot of concentration and research. Writing an essay takes hours and even up days. We offer the best custom writing service and have your best interests in mind. Most online writing industries do not have qualified writers and are just after your money. Worry less, our writers who have enough experience are ready to give you the help you need. Our writers are carefully selected and undergo some tests to prove their professionalism.

Admissions

Admission Papers

Are you applying for a college? We help students join their dream college by writing for them strong admission papers that showcases their qualities and personalities. An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. We utilize statements of purpose, personal statements, and personal essays to make a compelling case by stating your leadership activities, education, accomplishments, and professional background.

Editing

Editing and Proofreading

We offer an abundance of online proofreading and editing services for our clients. By definition, proofreading is the final surface-level check done on a document. Other academic writing companies offer editing and proofreading as separate services. At our assignment help website, we offer editing and proofreading services as one complete package at affordable cheap prices. Grab your 30% Coupon if you order today!!!

Coursework

Business Paper

Are you a student pursuing an MBA in business, no need to look any further? We offer the best assignment help as we have the top niche MBA business writers who will give you A+ assignments. Over the years, our experts have helped students accomplish their academic dreams. We have helped thousands of students complete their business assignments with confidence.Grab your 30% Coupon if you order today!!!

AllEscort