Market Economy

Which is NOT one of the 5 characteristics of a Market Economy?

• Property Rights
• Freedom of Enterprise
• Competition
• Freedom of the Press

Burger King and McDonalds keep their prices low because of

• Competition
• Property Rights
• Limited Role of Government
• Freedom of Enterprise

How does a free market economy view property rights?

• There are many limitations to owning private property
• No citizen has the right to own private property
• All property is public
• Private property is respected and kept secure

How would a free market economy be described?

• An economy in which decisions are made by the government.
• The international exchange of goods.
• An economy based on supply and demand with little or no government control
• An economy that is communist

Which is NOT a role of the government?

• The government provides public goods
• The government prevents any unfair advantages of businesses
• All economic activity is controlled by the government
• The government protects consumers

Which is NOT a freedom of a free market economy?

• No taxes on goods
• Freedom to produce and sell anything
• Freedom of prices on goods (to an extent)
• Little government involvement

What type of economy does the United States have?

• Traditional
• Command
• Unlimited
• Market

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command

This type of government typically goes with the Command Economy.  

• Democracy
• Dictatorship
• Autocracy
• Communism

The government has little to no role in the production of goods in this type of economy. 

• Traditional 
• Mixed
• Command 
• Market