Free Enterprise

In the United States, you may_______________.

• start your own business to meet a need
• decide what fees to charge for a service or product
• own and run any business as long as the laws are obeyed
• all of the answers are correct

In the American Free Enterprise System, you have the right to buy or sell private property.

• True
• I do not believe that people should own property, or have the right to buy or sell it.
• False

Everyone in today's technological world uses____________

• telecommuting
• cell phones
• financial resources
• information

The amount of money a business earns when selling a good

• Profit

• Consumer

• Entrepeneur

• Competition

Long ago, all books were copied by hand. Making new copies was a lot of work and took a long time. But the invention of the printing press made copying books faster and easier. What happened to the overall supply of books after the printing press was invented?

• The supply went up.

• The supply went down

Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?

• The demand will probably go up

• The demand will probably go down

The person who grows, makes or sells products is a …………..

• producer

• consumer

• goods

• business

A person who buys and uses goods and services is a ………...

• goods

• services

• producer

• consumer

Work done by others is ………………….

• goods

• service

• producer

• consumer

Things that can be bought or sold are...………...

• producer

• consumer

• goods

• services