Now in Free-Market Competition, the …show more content…
When you own your own business, you have the right to open the hors that you see fit. You may also expand your company to accommodate an increase in sales volume. Your company can also be sold if you see fit. With all of these choices, the government may not under any circumstances interfere with planning, regulations and rules.
Pursuit of profit in a society can make the best product for the largest number of persons. In a Capitalist society it can have a few positive results. Such as the best business owner will earn the most money, and the consumer will save some money. This in return should make the society more resourceful and vital.
The major difference between the Capitalist society and the Socialist society is the direct ownership of the businesses and the income of production. In the Socialist society the government takes control of the countries major money generators, such as, airplanes, railroads, television stations, banks. They may also take over companies that produce steel, chemicals, oil and other such items. They offer the population a job for life in return for production in the name of the people. Whereas in a Capitalistic society, the people own companies individually, make as much money as their business will allow. The individual owners also regulate how much of a product will be produced, and how it will be distributed, and for what