Free Enterprise

Which economic system is practiced in the United States?

• command

• free enterprise

• mixed

• traditional

One important feature of a free enterprise system is government restriction of competition.

• True

• False

Another word used to describe the free enterprise system is

• communism

• capitalism

• nationalism

• none of the above

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

• minimum

• maximum

• normal

• abnormal

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

The Free Enterprise System deals with what aspect of human life?

• Geography

• Economy

• Government

• Migration

What type of economic system does the United States use?

• Traditional Market

• Free Enterprise

• Command Market

• Socialist Enterprise

What is "profit?"

• A government stimulus check

• The amount of money you owe to produce your product

• The loan from the bank to start your business

• The money left over after businesses make a product

What happens if only one company in the whole world produced every cell phone in the world?

• They could charge whatever they want

• Better quality items

• Lower prices

• Better apps

What is a monopoly?

• One company/person gaining control of the whole market for that item

• One company/person gaining control of 10% of the market for that item

• One company/person gaining control of 30% of the market for that item

• Multiple companies producing similar products creating competition