Allison Owns a Factory Where Others Work for Her

question 96

Multiple Choice

Allison owns a factory where others work for her. Allison exemplifies

• A) The bourgeoisie
• B) The proletariat
• C) A feudal lord
• D) An ascribed status

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Definitions:

Manufacturers Decide

The process by which companies determine what products to produce, how much to produce, and at what price to sell based on market demand and other factors.

Market Economy

An economic system where supply and demand from consumers and businesses drive economic decision-making and the allocation of resources.

Economic Decisions

Choices made by individuals, firms, or governments regarding allocation of resources to satisfy needs and desires.

Laissez-Faire Economy

An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.