Free enterprise

Another word used to describe the free enterprise system is

• communism

• capitalism

• nationalism

• mercantilism

Under a free enterprise system, businesses in the US are allowed to do all of the following EXCEPT

• decide what products to sell

• decide how to operate their business

• price their products

• they're allowed to do all of the above

In a free enterprise system, the government places ______ restrictions on businesses and citizens

• minimum

• maximum

• normal

• zero

The US government allows businesses to produce and sell products which express an opinion.

• True

• False

All of the following are characteristics of a free enterprise system EXCEPT

• freedom to pursue an education

• freedom to seek employment

• freedom to scam others

• freedom to purchase property

A government which uses a free enterprise system of economics allow its citizens to

• start their own business

• purchase goods wherever they want

• spend their money as they please

• all of the above

Under a free enterprise system, people must work in a profession that is chosen for them by the government.

• True

• False

The driving force behind people going into business is

• profit margin
• profit motive
• opportunity cost
• taxes

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

• legal equality
• open opportunity
• private property
• profit incentive

In a free enterprise system __________________.

• A.individuals must have government approval to start businesses

• B.only groups may start their own businesses

• C.businesses are heavily regulated by the government

• D.individuals and groups can start their own businesses