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Free Enterprise System

Authored by Megan Walraven

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8th Grade

Used 24+ times

Free Enterprise System
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7 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

This is the social & political commitment & freedom to start their own businesses & compete

free enterprise system
free response system
free travel system
freedom of choice

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The driving force behind people going into business is

Government involvement

Making a profit

opportunity cost

Paying taxes

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The concept that people have the right and privilege to control their possessions as they wish.

legal equality
open opportunity
private property
profit incentive

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The rivalry between sellers to get more customers by lowering costs & better goods/services

voluntary exchange
competition
incentives
legal equality

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

According to the laws of supply and demand, businesses lower a product’s price when the supply of the product increases

True

False

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is a main building block of free enterprise?

Private property

competition

Limited government intervention

all the above

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Building roads and railroads in the western frontiers helps promote...

command economy

centrally-planned economy

free enterprise economy

traditional economy

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