free enterprise
Quiz
•
Social Studies
•
10th - 12th Grade
•
Practice Problem
•
Medium
Jacob Dawson
Used 201+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money left after production costs are subtracted from revenue is called
free rider
profit
subsidy
scarcity
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who chooses to, and is free to, open a grocery store is participating in a
command economy
centrally-planned economy
free enterprise economy
traditional economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most people are inspired to start a business by the
free contract clause
marginal benefit
open opportunity clause
profit motive
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of producers?
Make the product
Buy the product
to carry out a government economic program
to increase the profit of other established retail stores
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of competition changing the marketplace?
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
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Free contract means that people can chose
for themselves what legal agreements to enter into
for themselves what positive externalities to support
to enter and compete in the marketplace
to enter into open opportunities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The incentive to improve material well-being by seeking to gain from economic activities is called
legal equality
marginal benefit
open opportunity
profit motive
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