Memorial to Paris Terror attacks

The video introduces the concept of profit motive, explaining its significance in economic activities. It highlights how the desire for profit drives business decisions and impacts market dynamics.

What is the primary focus of the profit motive?

• Maximizing social welfare

• Maximizing personal gain

• Minimizing environmental impact

• Minimizing production costs

Which of the following is NOT a characteristic of the profit motive?

• Encouraging innovation

• Focusing on short-term gains

• Prioritizing customer satisfaction

• Driving competition

In what way does the profit motive impact business decisions?

• It encourages businesses to reduce prices.

• It leads to increased government regulation.

• It results in higher employee wages.

• It drives businesses to maximize efficiency.

How has the profit motive influenced economic systems historically?

• It has led to the development of barter systems.

• It has encouraged the growth of capitalist economies.

• It has resulted in the decline of trade.

• It has promoted the use of renewable resources.

What historical event is closely associated with the rise of the profit motive?

• The Renaissance

• The Industrial Revolution

• The Agricultural Revolution

• The Information Age