Free Enterprise

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

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

The concept that people may decide what and when they want to buy and sell goods & services

• voluntary exchange
• legal equality
• private property
• open opportunity

An economic system in which businesses compete against one another free of government control

• Socialism
• Free Enterprise
• Product
• Marketing

What is the main goal of Free Enterprise

• Economic Freedom

• Friendship

• Profit

• Acceptance

What is a producer?

• People who buy goods

• People who make and sell goods

• People who eat goods

• None of the above

Is a consumer someone who buy and use goods and services.

• True

• False

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

• abnormal

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