free enterprise

free enterprise

Assessment

Flashcard

Social Studies

10th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

The money left after production costs are subtracted from revenue is called

Back

profit

2.

FLASHCARD QUESTION

Front

A person who chooses to, and is free to, open a grocery store is participating in a

Back

free enterprise economy

3.

FLASHCARD QUESTION

Front

Most people are inspired to start a business by the

Back

profit motive

4.

FLASHCARD QUESTION

Front

What is the role of producers?

Back

Make the product

5.

FLASHCARD QUESTION

Front

Which is an example of competition changing the marketplace? Options: a chain bookseller forcing many individual booksellers to go out of business, a chain hot dog restaurant failing to make a large profit, a chain coffee shop having no effect on individual coffee shops, a chain restaurant expanding its menu to include desserts

Back

a chain bookseller forcing many individual booksellers to go out of business

6.

FLASHCARD QUESTION

Front

Free contract means that people can chose

Back

for themselves what legal agreements to enter into

7.

FLASHCARD QUESTION

Front

The incentive to improve material well-being by seeking to gain from economic activities is called

Back

profit motive

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