Factory owners are individuals or entities that own factories. They control production processes and make decisions about how their factories should operate.
Consider factory owners as coaches of a football team. They strategize game plans (production methods), decide who plays what position (assign roles), and have ultimate responsibility for the team's performance (productivity).
Capitalism: An economic system characterized by private ownership where investment is determined by private decision rather than state control.
Entrepreneurship: The activity of setting up businesses or industries while taking on financial risks in hope for profit.
Industrialists: Individuals whose wealth comes from ownership or control over industrial sectors like manufacturing.
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