Characteristics of a Free Enterprise System

Producers (business) are free to sell their products at what ever price they wish, and Consumers (customers) are free to refuse to buy. This is part of which Characteristic of Free Enterprise?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Workers can choose any job they want when they start their careers. What Characteristic of Free Enterprise is being described?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Individuals can own land, personal property, business property, and money. They can do what ever they'd like with said property. What Characteristic is being described?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

What characteristic is being described? Individuals can act in their own self interest. Businesses can charge the highest price they can, and consumers can shop around to find the lowest price. Workers are also free to ask for higher wages and better working conditions.

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Match the following

• Profit Motive

• 
• Economic Freedom

• 
• Private Property

• 
• Voluntary Exchange

• 

What are the benefits of competition?

• New Ideas

• Improve product Quality

• Cheaper Products

• All of the above

Thomas has the option to go the college, start and apprenticeship or work at an entry level job when he graduates. This is an example of what?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Blanca goes to Best Buy to purchase the latest Play Station game, but notices its cheaper at WalMart. She decides to go with the lower price at WalMart. This is an Example of which Characteristic?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Charles saves up enough money to buy ocean front property. He can either build a house or start a boating company on his property. Its his choice because he owns the land. What Characteristic is being show?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive

Paulina refuses to buy products from Nestle because she doesn't agree with their business practices. This is an example of which Characteristic?

• Economic Freedom

• Voluntary Exchange

• Private Property

• Profit Motive