Competition is definitely a driving force for success, especially within the free enterprise system of the United States. Steve Jobs, for example, is the a co-founder of Apple, one of the most successful companies in the world. Free enterprise has a significant influence on this company's global dominance. Free enterprise is defined as a system that provides individuals the opportunity to make their own economic decision without restrictions from the government. Steve Jobs is an excellent example of an entrepreneur driven to success by the free enterprise system.
Apple began in 1976, in the garage of Steve Job's adoptive parents, where he and his friend Steve Wozniak created the first apple computer. The initial selling price of this computer was $666.66 and at the end of that year, the Apple 1 had earned $774,000. Three years later, after the Apple 2 was released, sales increased by 700% to $139 million. When Apple became publicly traded in 1980, it had a market value $1.2 million dollars by the end of the first day. The success of Apple is indubitable. …show more content…
Innovations such as the MacBook Air, iPod, and iPhone contributed to Apple's staggering $1.58 billion profit, an $18 billion surplus in the bank and zero debt. Apple continues to create astounding new technology that is used all over the world. Without a free enterprise system, none of this could have been achieved. Free enterprise systems only exist in mixed market economies. In a mixed market economy consumers and producers are allowed a level of economic freedom through the use of capital to increase economic choice. If your family is poor, that doesn't mean you will be for the rest of your life, with hard work and determination one can become wealthier. Steve Jobs used his position in this free enterprise society to fuel his desire to become successful. That is why I believe free enterprise is truly necessary for
Apple began in 1976, in the garage of Steve Job's adoptive parents, where he and his friend Steve Wozniak created the first apple computer. The initial selling price of this computer was $666.66 and at the end of that year, the Apple 1 had earned $774,000. Three years later, after the Apple 2 was released, sales increased by 700% to $139 million. When Apple became publicly traded in 1980, it had a market value $1.2 million dollars by the end of the first day. The success of Apple is indubitable. …show more content…
Innovations such as the MacBook Air, iPod, and iPhone contributed to Apple's staggering $1.58 billion profit, an $18 billion surplus in the bank and zero debt. Apple continues to create astounding new technology that is used all over the world. Without a free enterprise system, none of this could have been achieved. Free enterprise systems only exist in mixed market economies. In a mixed market economy consumers and producers are allowed a level of economic freedom through the use of capital to increase economic choice. If your family is poor, that doesn't mean you will be for the rest of your life, with hard work and determination one can become wealthier. Steve Jobs used his position in this free enterprise society to fuel his desire to become successful. That is why I believe free enterprise is truly necessary for