Question 18 • VHS-Economics and Personal Finance
Answer:
Entrepreneurship and free enterprise benefit society by giving people the opportunity to develop businesses and earn income. Entrepreneurs can create jobs, which helps reduce unemployment, and successful businesses contribute taxes that fund government services. Some people argue that entrepreneurship can cause unemployment when businesses fail or replace existing jobs, but new businesses also create work and economic opportunities. Overall, the benefits of encouraging entrepreneurs and allowing businesses to compete outweigh this risk.