Business Information System

Business - 1-Has the free enterprise system prevailed?by Jessika Toothman(Application Software)Free enterprise is an economic engine powered by

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Unformatted text preview: 1-Has the free enterprise system prevailed?by Jessika Toothman(Application Software)Free enterprise is an economic engine powered by unfettered industry and profit-focused individuals. Basically, it's capitalism. Resources are owned by people -- as opposed to the government -- and the government doesn't interfere with the economy, apart from ensuring overall peace and order in the society.Ideally, this means that even though the system is ostensibly self-based, because people want to make money, they'll work hard to profit. That means pleasing consumers. So producers get paid, people get stuff they want at a reasonable price, and everybody wins. Except it doesn't usually pan out that perfectly in the real world.That's because under capitalism, it's possible to amass astronomical fortunes. Just think of the major commercial players of the 19th century. These titans of industry, like steel magnate Andrew Carnegie and oil baron John D. Rockefeller, were able to accumulate amazing amounts of wealth during the Industrial Revolution. When adjusted for inflation, Carnegie did pretty well in terms of dollarfigures, raking in a cool $475,000,000. But it was Rockefeller who really blew everybody out of the waterin terms of wealth. When he died, he was worth $1.4 billion making him the richest American to date [source: CNN Money]. His fortune was so massive, it amounted to 1/65 of the nation's overall gross domestic product at the time.Unfortunately, at least part of the reason why barons like Carnegie and Rockefeller were able to become so affluent was because their businesses' bottom lines weren't hampered by things like child labor laws and minimum wagerequirements. Factory workers suffered miserably due to unsafe working conditions and incredibly long hours, all while earning extremely low wages. They often lived in polluted factory towns that served up inferior foodin short supply.The middle class frequently suffered alongside them as the boom and bust business cycle created by capitalism periodically crashed the market, repeatedly sending the entire economy into devastating tailspins. These include the Panic of 1837, the Panic of 1857, the Panic of 1873, the Panic of 1893, the Panic of 1901 and so on. 2-What is Computer Hardware? (Hardware)There are a huge number of computer users out there who surprisingly enough, don’t know the answer to this question! So what is computer hardware exactly?You need to think of your PC as a system, one that consists of various components. Some of them, like the version of windows you use and any other programs on your PC, are called software. Meanwhile, in answer to the question what is computer hardware, this is the stuff that you can actually see and feel, the bits that would break if you were to drop them, are called hardware....
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This note was uploaded on 04/08/2012 for the course INFO 2232 taught by Professor Fairuz during the Spring '12 term at Adrian College.

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Business - 1-Has the free enterprise system prevailed?by Jessika Toothman(Application Software)Free enterprise is an economic engine powered by

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