Free Enterprise System

Work done by others is ………………….

• goods

• service

• producer

• consumer

The amount of money a business earns when selling a good

• Profit

• Consumer

• Entrepeneur

• Competition

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

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

• producer

• consumer

• goods

• services

According to the selection, which sentence shows the impact that the  growing population had on Texas after statehood?

• Consumers are free to choose for themselves what they would like to buy.

• The government does not tell them what to do

• As the population of Texas grew, the demand for services also grew.

• After statehood, Texas continued to grow.

Under what economic system did Texas operate?

• Traditional Economy System

• Free Enterprise System

• Command System

•  More Money System

How is a producer different from a consumer?

• A producer sells goods or services while a consumer buys goods or services.

• A producer buys goods and services while a consumer sells goods and services.

• A producer comes up with new ideas while the consumer creates it.

• A producer makes ads while the consumer posts it on YouTube.

The free enterprise system is based on the concept or idea of-

• Give and take

• Law and order

• Pro and cons

• Supply and demand