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Mark Elliot Zuckerberg: 5.02 - A Private Enterprise System

Mark Zuckerberg founded Facebook as a social media platform from his Harvard dorm room and it has grown into a company worth over $100 billion. Facebook's main products include its flagship social media platform, Instagram, Messenger, and other apps and services. It produces and markets these digital services and platforms to consumers and businesses worldwide primarily through online advertising and in-app purchases. As a major private enterprise, Facebook has faced some government regulations and concerns over data privacy but has also experienced significant economic freedoms and growth opportunities.

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327 views

Mark Elliot Zuckerberg: 5.02 - A Private Enterprise System

Mark Zuckerberg founded Facebook as a social media platform from his Harvard dorm room and it has grown into a company worth over $100 billion. Facebook's main products include its flagship social media platform, Instagram, Messenger, and other apps and services. It produces and markets these digital services and platforms to consumers and businesses worldwide primarily through online advertising and in-app purchases. As a major private enterprise, Facebook has faced some government regulations and concerns over data privacy but has also experienced significant economic freedoms and growth opportunities.

Uploaded by

api-535858416
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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5.

02 – A Private Enterprise System

Directions: In a private enterprise system, businesses are owned by individuals instead of the
government. There are many entrepreneurs that started their business at an early age. Find an
entrepreneur in the United States. Use your findings to complete the chart below.
Name of the Entrepreneur Mark Elliot Zuckerberg
Provide a brief backstory of Born in White Plains, New
the entrepreneur York, Zuckerberg attended
Harvard University, where he
launched the Facebook social
networking service from his
dormitory room.

Name of the Business Facebook

Type of business Social media

What is the entrepreneur’s $111 billion dollars


monetary worth?

Private Enterprise

What goods or services are The Facebook Products


produced? include Facebook (including
the Facebook mobile app
and in-app browser),
Messenger, Instagram
(including apps like Direct
and Boomerang), Portal-
branded devices, Bonfire,
Facebook Mentions,
Facebook Shops, Spark AR
Studio, Audience Network,
NPE Team apps and any
other features, apps,
technologies, software,
products, or services.
How are the goods or By the facebook company
services produced?

Who is the intended target everyone


market for these goods and
services?
Freedom in the Marketplace

What resources are materials


needed for the production
of the goods or services?

How are the products or Commonly, Facebook


services marketed? marketing is used by:
Brands. Food, electronics,
home goods, restaurants—
nearly any kind of brand
can be promoted through
Facebook, turning passive
customers into active fans
who follow news of
promotions and
developments, and who
share with their own friends.
Private Property

What type of property or Network, buildings, computer


equipment is needed for software, office equipment,
this business? Finance lease right-of-use
assets, leasehold
improvements

Limited Government Control

Are there any government yes


regulations or mandates
concerning this business?

Would there be any Yes private accounts


concerns to protect citizens
from any part of this
business?

Competition

List two competitors of this Snapchat, Twitter


business

Economic Freedoms

What economic freedoms Allowing many to own the app


did the entrepreneur have and many people to help
when starting this improve the app
business?

What limits to freedom may Upper people cool dislike it


this business experience or and want to take it down
has experienced?

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