Please answer the following question fully and in complete sentences: Explain the role of profit in a free enterprise system.

A highly developed country would most likely be at which level of economic development?

When supply and demand balance each other resulting in  stable prices, this is the state of ___________________________.

Growth of business conglomerates happened on a large scale after what historic event?

______________________  the physical products that can be delivered to, purchased by, owned by, and/or sold to aconsumer

Please answer the following question fully and in complete sentences: What are the advantages and disadvantages of government regulation of industry?

Please answer the following question fully and in complete sentences: What does it mean to have a global economy?  What are some pros and cons of a global economy?

Preindustrial societies are characterized by which of the following?

Which stage of economic development is dependent on rural economies?

When borrowers pay a price for borrowing funds, this is called _________________________.