Answer:
B. allows businesses to operate without much government
interference.
Explanation:
The free enterprise system is an economic model where government participation is minimal. The private sector owns the majority of factors of production. The laws of supply and demand determine market prices, the type, quality, and quantity of goods to be availed for sale.
The government's role is mainly regulatory. Buyers and sellers have the freedom to choose what to sell or buy. Profits are a big motivation to do business under the free enterprise system.
The development of an internationally distributed
collection of multimedia files addressed using universal resource locators led
to the world-wide web (www).
Tim Berners-Lee, who was an English scientist invented
the World Wide Web (WWW) in 1989. The global information medium,
accessed by the use of internet, where documents and other web resources are recognized
and it is also refers to the collection of public websites. Web and Internet
are different terms, they are mostly misunderstood.
Cyclical unemployment is a factor of overall unemployment that relates to the cyclical trends in growth and production that occur within the business cycle.
Answer:
The correct answer is option B.
Explanation:
In a competitive industry there is no restriction on entry or exit of firms in the market. So, when in the short run the firms are enjoying super normal profits or positive economic profits, this would attract potential firms to join the industry in the long run.
As a result the industry supply will increase in the long run. The increase in supply would cause the price to fall. This would further contribute in reducing revenue and profit.
This process will continue till the profit is reduced to zero. If profit falls below zero, then firms incurring loss will exit the industry. Then again zero profits will be restored by reduction in supply and increase in price.
So, we can say that perfectly competitive firms will have zero economic profits or only normal profits in the long run.
